Taxx Now 2 - 2017-2018 Updates
What's New
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Revised 1/5/18

Beginning on Jan. 1, 2018, the standard mileage rates for
the use of a car (also vans, pickups or panel trucks) will be:

54.5 cents for every mile of business travel driven, up 1
cent from the rate for 2017.

18 cents per mile driven for medical or moving purposes,
up 1 cent from the rate for 2017.

14 cents per mile driven in service of charitable
organizations.

The business mileage rate and the medical and moving
expense rates each increased 1 cent per mile from the
rates for 2017. The charitable rate is set by statute and
remains unchanged.

The standard mileage rate for business is based on an
annual study of the fixed and variable costs of operating an
automobile. The rate for medical and moving purposes is
based on the variable costs.

Taxpayers always have the option of calculating the actual
costs of using their vehicle rather than using the standard
mileage rates.
2017 Tax Season Opens Jan. 29th for Nation’s
Taxpayers

Individuals who receive unsolicited emails
claiming to be from the IRS should forward it to
phishing@irs.gov and then delete it. It is
important to keep in mind the IRS generally does
not initiate contact with taxpayers by email to
request personal or financial information. For
more information, visit the “Tax Scams and
Consumer Alerts” page on IRS.gov.

The Internal Revenue Service announced today
that the nation’s tax season will begin Monday,
Jan. 29, 2018 and reminded taxpayers claiming
certain tax credits that refunds won’t be available
before late February.

The filing deadline to submit 2017 tax returns is
Tuesday, April 17, 2018, rather than the
traditional April 15 date. In 2018, April 15 falls on
a Sunday, and this would usually move the filing
deadline to the following Monday – April 16.
However, Emancipation Day – a legal holiday in
the District of Columbia – will be observed on that
Monday, which pushes the nation’s filing deadline
to Tuesday, April 17, 2018. Under the tax law,
legal holidays in the District of Columbia affect
the filing deadline across the nation.