IRS Mileage Increase ... Email Scam ... SS&Co Fan Club ..............................................................................................................................................................................................

IRS Increases Mileage Rate to 55.5 Cents per Mile

Effective July 1, 2011 - The Internal Revenue Service will increase the optional standard mileage rates used to calculate the deductible costs of operating an automobile for business and other purposes. The rate will be 55.5 percent per mile for all business-related miles driven between July 1-Dec. 31, 2011. This is an increase of 4.5 cents from the 51 cent rate in effect for the first half of 2011.

The impact of recent gasoline price increases prompted the IRS to make this special adjustment for the remainder of 2011. The IRS normally updates mileage rates in the fall for the next calendar year.

The standard mileage rate is used to compute the deductible costs of operating a car for business in lieu of tracking actual costs. This rate is also used by the federal government and many businesses to reimburse their employees for mileage.

The new six-month medical or moving expenses will increase by 4.5 cents to 23.5 cents a mile, up from 19 cents for the first half of 2011. The rate for providing services for charitable organizations is set by statute, not the IRS, and remains at 14 cents a mile.   

For the IRS announcement go to:

http://www.irs.gov/newsroom/article/0,,id=240903,00.html     

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Email Scam Targeting Tax Payers  

Warning!  There is a new email scam targeting taxpayers. An email claiming to be from the IRS or the Federal Reserve is telling taxpayers that a return or payment cannot be processed until the taxpayer provides additional personal information. However, the IRS and Federal Reserve never send these emails. If you receive this email - delete it!

What our fans are saying...

"Smith, Sullivan & Company has been doing Family Nurturing Center's audits since 2000. Whoever thought an audit could be fun? The staff are professional, punctual, and crystal clear about our Organization's strengths and growth areas. They have worked well with our staff and Board. Their firm's growth in the last few years has not compromised their excellent service. They have a unique understanding of the issues for small to mid-size nonprofits. We highly recommend them."

Matt LiPuma, Executive Director, Family Nurturing Center of Massachusetts, 

Dorchester, MA

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