Tax news October 2012

Tax

IRS Freezes Per Diem Rates for 2013

Now that new per diem rates for business travelers have been released, there's a definite chill in the air. The IRS has announced the rates for the government's 2013 fiscal year have been frozen at the same levels as last year.
Tax

45 States Have More Time to Replace Livestock

Farmers and ranchers who previously were forced to sell livestock due to drought, have an extended period of time in which to replace the livestock and defer tax on any gains from the forced sales, the IRS announced.

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Voice of the Editor

Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?
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