Lafayette Online

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 […]

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 […]

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 […]

WASHINGTON, DC — With the tax deadline just hours away, the Internal Revenue Service has announced that taxpayers set a record this weekend for e-filed tax returns, topping 100 million for the first time since they began offering the service. The IRS saw a late surge of e-filed returns over the weekend. By early Monday […]

WASHINGTON, DC — If you want to get your federal tax refund ASAP, the Internal Revenue Service says taxpayers should review their tax returns for common errors that could result in delayed refunds. Here are some ways to avoid common tax return errors. File electronically. Filing electronically, whether through e-file or IRS Free File, vastly […]

WASHINGTON, DC — The Internal Revenue Service today reminded taxpayers who have not yet filed their 2010 federal income tax returns that individual returns and payments are due next Monday, April 18, 2011. There are several payment options available to taxpayers who have a balance due. Payments can be made by: Electronic funds withdrawal Credit […]