Fuller Tax Blog Blog

Senate Passes Tax Extenders, Sends Bill to the White House

With a 76-16 result, the Senate voted Tuesday to approve H.R. 5771 (the “Tax Increase Prevention Act of 2014”) and send the bill straight to the White House, where President Obama is expected to sign the bill. The vote was taken last night at 7:32 p.m. (EST), with fairly even representation among Democrats and Republicans. Virtually all the tax extenders...

Tax Extenders: Getting Warmer, But Still Not There

In continuation of prior coverage of the current form of the tax extenders, the nation continues to wait on the Senate to do its part to move them along to the White House after the House of Representatives passed a package that includes both the traditional tax extenders package (extending them retroactively and to the end of 2014) and the...

Picture of Capitol Building in Washington, D.C.

Tax Extenders Take Back Seat to Spending Bill and Nominations

At the beginning of this week, the expectation was that the Senate would quickly bring to a vote the Tax Increase Prevention Act of 2014 that was speedily introduced and passed in the House. In fact, Senate Majority Leader Harry Reid (D-NV) himself had stated that he planned to bring the initiative to the Senate floor for a vote–this being...

Closeup of IRS signage near an entrance to the IRS building in Washington, D.C.

Standard Mileage Rates for Tax Year 2015

The IRS today announced the standard mileage rates that will apply towards business, charitable, medical and moving use of vehicles for tax deduction purposes. The optional standard mileage rates for 2015 will be as follows:[1] Type of Use: Standard Mileage Rate: Business 57.5 cents/mile Medical/Moving 23 cents/mile Charitable 14 cents/mile In comparison with the 2014 standard mileage rates, one rate...