January 2023

The IRS has released the 2023 final version of its Publication 15-B (The Employer’s Tax Guide to Fringe Benefits). The “What’s New” section of the publication includes information on the 2023 business mileage rate under the “cents-per-mile rule,” the monthly exclusion for qualified parking and commuter transportation benefits, and the contribution limit on a health flexible…

When should you file your income tax? The earlier, the better; before the end of January – if you expect to get a refund. If you file by the end of February, you should receive your check within six weeks. But, if you delay and file in April when the Internal Revenue Service is inundated…

With three major pieces of tax legislation passed within the last three years, we have more nuances, more inflation adjustments, more expiring tax breaks, and more rules to follow than ever before. Stay on top of the details with our annual compilation of the various tax rates, thresholds, limitations and exemptions for the new year.…