Posts tagged Tax
IRS Announcements | January 2019

The underpayment penalty waiver threshold is lowered from 90% to 85% of 2018 tax liability to help those who have under-withheld because of the tax reform law. It will also apply to individuals making quarterly estimates, but not to corporations.

The standard mileage rate has been increased to 58 cents/mile for 2019 along with adjustments to the charitable and medical mileage rates.

The agency announced tax season will begin January 28 with the released update to its contingency plans for government shutdowns and the expected impacts of a continuing shutdown on the tax filing season.

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