The Institute sent a letter to officials at the Treasury and the IRS asking for immediate guidance on a provision of the One ...

Starting Jan. 1, 2024 the mileage tax deduction will now be 67 cents per mile driven — up 1.5 cents from 2023. Find out if ...

The days of dividing the difference in the odometer by hours traveled are long over. These next-gen apps track and report ...

The Internal Revenue Service is increasing the tax deduction motorists can take for using private vehicles for business, a rare midyear move sparked by high gas prices.

Republicans in Congress have approved a $6,000 “bonus deduction” for those over age 65 in President Trump’s signature tax and spending bill, dubbed the "One Big Beautiful Bill" (OBBB).

If you work for a company that doesn't reimburse your mileage, you cannot use the IRS business standard mileage rate to claim an itemized deduction for unreimbursed employee travel expenses.

Fraud victims wondering whether they can deduct a portion of their financial losses tied to scams on their taxes just got some clarification from the IRS. In a memo released last month, the IRS Office ...

LOWCOUNTRY, S.C. (WCIV) — As 2025 tax deadlines approach, Lowcountry residents are getting their paperwork in order to file their personal and business taxes for the year.

The IRS standard mileage rate for tax deductions is typically near 65.5 cents per mile. The rules for calculating the rate are updated every tax year, so it's good to stay current.

New guidance from the IRS clarifies when scam victims can deduct their losses. Investment cases are among the most clear-cut.

New tax deduction rules can help self-employed Uber and Lyft drivers save money this tax season. The IRS allows two methods for deducting vehicle expenses. The standard mileage rate for the 2024 ...