 Have you noticed the price of gas? So has the IRS – and the reimbursement rate for business mileage has gone down as a result. The new rate for 2017 is 53.5¢ per mile, down from the 2016 rate of 54¢ per mile. The rate for medical and moving mileage also decreased. Effective January 1, the standard rate is 17¢ per mile, down from last year’s 19¢. The charitable mileage rate remains 14¢. This is general information and should not be acted upon without first determining its application to your specific situation.
Please contact your CPA or tax advisor for additional details. When you're an applicable large employer (generally, when you employ 50 or more full-time workers and equivalents), you're required to provide information about health coverage to the IRS and to your employees. The IRS extended the date on which two of these forms are due to your employees. Instead of being due January 31, Form 1095-B, Health Coverage, and Form 1095-C, Employer Provided Health Insurance Offer and Coverage, are now due March 2, 2017. There is no change to the February 28, 2017, due date for filing paper forms with the IRS, nor the March 31, 2017, due date for filing electronically. This is general information and should not be acted upon without first determining its application to your specific situation.
Please contact your CPA or tax advisor for additional details.
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This is general information and should not be acted upon without first determining its application to your specific situation.
Please contact your CPA or tax advisor for additional details. |
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