Thursday, June 23, 2011

IRS Increases Mileage Rate to 55.5 Cents per Mile

The IRS today announced the increase of the standard mileage rates for the last six months of 2011 due to the increase in gasoline prices - action similar to 2008, the last time gasoline reached $4 per gallon.

The standard mileage rates are the following:

Business    Medical/Moving    Charitable
July 1, 2011 -
Dec. 31, 2011

55.523.514
Jan. 1, 2011 -
June 30, 2011

511914
20105016.514
2009552414
July 1, 2008 -
Dec. 31, 2008

58.52714
Jan. 1, 2008 -
June 30, 2008

50.51914

Wednesday, June 22, 2011

Where's My Refund?

Taxpayers can check the status of their tax refund 24 hours a day, 7 days a week, worldwide, with a web browser and a few pieces of information.
  • Navigate to IRS.gov and click the Where My Refund button,
  • Next enter the social security number of the primary taxpayer. This information can be pulled from the upper right corner of Form 1040.
  • Select the filing status from Boxes 1 through 5
  • Finally, enter the exact amount of your refund from line 74a of Form 1040.
Generally, if the taxpayer e-filed, the refund information will available 72 hours after the acknowledgment saying the IRS received the tax return – allow three to four weeks if filing a paper tax return.