Reminder from Accounting Consultants Inc:  The Federal Estimated Tax Payment Deadline for Individuals is September 15, 2016
  Individual Newsletter                                  September 2016
Tax Deadlines:
  
September 15, 2016 - Estimated Tax Payment:  The deadline for the third quarter estimated tax payment is September 15, 2016.  Tennessee residents must submit their payment to the Internal Revenue Service Center, PO Box 931100, Louisville, KY  40293-1100.  Checks should be made payable to the "United States Treasury".  If you reside in another state besides Tennessee, please call us for the address.  If you want to make your payment to the IRS electronically go to www.eftps.gov (must be already enrolled for eftps) or www.irs.gov/payments (no enrollment required).
  
October 17, 2016 - Federal Income Tax Return:  If an extension was filed by April 18, 2016, the deadline for filing your 2015 federal income tax return is October 17, 2016.  If we do not have all of your tax information, please provide this to us ASAP. 
Tax News:
  
Tennessee Hall Tax -  Governor Bill Haslam signed into law a bill that reduces Tennessee's Hall Income tax on dividend income, interest income and capital gain distributions this year and eliminates it in 2022.  This bill reduces the income tax rate from 6 percent to 5 percent for tax year 2016 and will then reduce the tax rate by 1 percent annually.
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Mileage Rates for 2016

          

           Business                  54 cents per mile

           Medical/Moving       19 cents per mile

           Charitable                14 cents per mile


 

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Accounting Consultants Inc. | 865/588-5288 | http://accountingconsultantsinc.net/
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