2012 Mileage Rates

Effective January 1, 2012, the Standard Mileage Rates are revised as follows: 

  • Business Rate = 55.5 cents per mile
  • Medical and Moving Rate = 23 cents per mile (down from 23.5 cents)
  • The Charitable Rate remains unchanged at 14 cents

 

Pennsylvania Department of Revenue Reminds Cyber Monday Shoppers to Pay Use Tax

Dateline:  November 23, 2011 - HARRISBURG

Press Release from the PA Department of Revenue:

Shoppers planning to take advantage of Cyber Monday Internet sales on Nov. 28 are reminded to check receipts for sales tax charges, and save purchase records not reflecting sales tax to facilitate payment of use tax in the new year, Department of Revenue Secretary Dan Meuser said today.

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Congress Passes Temporary Payroll Tax Cut Extension

At the eleventh hour, Congress approved a two-month extension of the employee-side payroll tax cut in the Temporary Payroll Tax Cut Continuation Act of 2011.  The two-month exension, for January and February 2012, is intended to give lawmakers additional time to negotiate a full-year extension of the payroll tax cut through the end of 2012.

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Health Care Coverage Now Reported on Your 2011 W-2s is Not Taxable

Dateline:  December 2011

The Affordable Care Act indicates that employers are now required to report the cost of employer-sponsored group health plan coverage on the Form W-2, Wage and Tax Statement.  This new reporting requirement is for information only, to inform you about the cost of your health coverage.  It does not mean that your employer-provided health care coverage is now subject to tax.

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Pennsylvania Employers: Prepare Now for Changes to Local Earned Income Tax (EIT) Collection

Dateline:  November 2011

Reforms to Pennsylvania's local Earned Income Tax (EIT) collection system affect Pennsylvania employers and may bring some additional revenue to local school districts and municipalities.  Consolidation of the EIT means employers will no longer have to remit taxes to multiple tax collectors.  The tax currently being collected by each municipality's chosen tax collector is being centralized on a countywide basis, effectively shrinking the number of tax collectors statewide from 560 to no more than 69.  However, the related administrative changes place additional responsibility on employers that can be costly and burdensome without proper planning.  Employers should take action now to prepare for the change and avoid penalties.

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Methods for Figuring the Deduction of Your Business Driving Costs

Dateline:  December 2011

If you drive your personal car or truck for business, be sure to know the rules for 2011 so you can maximize your tax deduction for the cost of this driving.

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