December 2, 2005

WASHINGTON — The Internal Revenue Service today issued the 2006 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

WASHINGTON -  Taxpayers will be able to request an automatic, six-month tax-filing extension for most common individual and business returns under regulations released today by the Treasury Department and the Internal Revenue Service.

 November 7, 2005

 WASHINGTON -  The Internal Revenue Service has certified the model year 2006 Ford Escape Hybrid and the 2006 Mercury Mariner Hybrid vehicles as being eligible for the clean-burning fuel deduction. This certification means that taxpayers who purchase one of these hybrid vehicles new during calendar year 2005 may claim a tax deduction of up to $2,000 on Form 1040.

September 30, 2005

The indexing of many features of the tax code will bring some relief to taxpayers next year, according to CCH Tax and Accounting, a leading provider of tax law information, software and services, which on September 21, 2005, released estimated income ranges for each 2006 tax bracket.

September 29, 2005

Despite its reputation for sometimes acting slowly on policy initiatives, the federal government has moved swiftly to change tax laws in order to aid those stricken by disasters in the Gulf Coast.