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IRS identifies organizations that have lost tax-exempt status; announces steps to help revoked orgs

WASHINGTON, DC — The Internal Revenue Service has announced that approximately 275,000 organizations under the law have automatically lost their tax-exempt status because they did not file legally required annual reports for three consecutive years. The IRS believes the vast majority of these organizations are defunct, but it also announced special steps to help any […] Read the full story

Posted in Business News

Internal Revenue Service

IRS increases mileage rate 4.5 cents to 55.5 cents/mile

WASHINGTON, DC — The Internal Revenue Service has announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes. The rate will increase to 55.5 cents a mile for […] Read the full story

Posted in Business News

IRS interest rates remain steady for third quarter of 2011

WASHINGTON, DC — The Internal Revenue Service has announced that interest rates for the calendar quarter beginning July 1, 2011, will remain the same as in the previous quarter.  The rates will be: four (4) percent for overpayments [three (3) percent in the case of a corporation]; four (4) percent for underpayments; six (6) percent […] Read the full story

Posted in Business News

Indiana farmland values still rising says Ag Economist

WEST LAFAYETTE, Ind. — A Purdue agricultural economist expects Indiana farmland values to keep rising this year, continuing a trend that has seen them increase by 270 percent since 1985. Farmland increased in value by 12 percent last year. In June 2010, the average price for an acre of land in Indiana was $4,419. With […] Read the full story

Posted in Agriculture

Tippecanoe Arts Federation logo

TAF extends deadline for capital and capacity grants to Aug 15

LAFAYETTE, Ind. — Tippecanoe Arts Federation has extended the application deadline for the Capital and Capacity Grants to August 15, 2011. The Capital and Capacity Grants, made available through a $200,000 grant from North Central Health Services (NCHS), are open to the arts and cultural communities in Benton, Carroll, Clinton, Fountain, Montgomery, Tippecanoe, Warren, and […] Read the full story

Posted in Business News

Purdue University Life Sciences Business Plan Competition

Registration under way for $100,000 life sciences business plan competition

WEST LAFAYETTE, Ind. — Registration is under way for Purdue University’s seventh Life Sciences Business Plan Competition, a Nov. 10 event with $100,000 in prizes for the nation’s most promising startup life-science businesses. This competition targets US-based start-up business entities in the life sciences arena. The business entity must be no more than three years […] Read the full story

Posted in Business News

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