IRS Online Payment System Now Available for 1040s

The Internal Revenue Service (IRS) announced the successful start of its new web-based system - IRS Direct Pay - on IRS.gov, which lets taxpayers pay their tax bills or make estimated payments directly from checking or savings accounts without any fees or pre-registration.

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2014 Philadelphia Wage Tax Rate Changes

The Philadelphia Revenue Department announced the following wage/earnings tax rates effective January 1, 2014:

Residents............3.92%

Nonresidents.......3.4915%

Dunlap & Associates Opens Quakertown Office

Dunlap & Associates is pleased to announce the opening of a new office in Quakertown.  "The newly opened Quakertown office is an integral part of our overall service philosophy - to provide the best service possible to our clients and be readily accessible to them when needed," explains Larry Pickering, Shareholder and Managing Director. "We have several clients in the Quakertown/Lehigh Valley region, and this office will enable us to continue our goal of providing exceptional client service for both existing and new clients throughout the area. It is our hope that this new office location will enable us to become even more involved in the Upper Bucks and Lehigh Valley communities and enhance our presence in the region." The new office is located at 101 E. Mill Street, Suite 103, Quakertown.

2014 Mileage Rates

Effective January 1, 2014, the Standard Mileage Rates are revised as follows:

  • Business Rate = 56 cents per mile (down from 56.5 cents)
  • Medical and Moving Rate = 23.5 cents per mile (down from 24 cents)
  • The Charitable Rate remains unchanged at 14 cents

IRS Delays Start of 2014 Tax Filing Season

The IRS plans to open the 2014 filing season on January 13, 2014 for Business Tax Returns, and on January 31, 2014 for Individual Tax Returns.  The 16-day government closure in October 2013 made it necessary for the IRS to delay the original opening dates to allow adequate time to program and test its tax processing systems.

2014 Social Security Update

The maximum taxable wage base for Social Security for 2014 will rise to $117,000 from $113,700.  Monthly Social Security benefits will increase 1.5 percent, increasing the average monthly benefit to $1,294 from $1,275.  For retirees under full retirement age, the retirement earnings text exempt amount will rise to $15,480 from $15,120.  For every $2 of earnings above this limit, $1 of benefits will be withheld.