On December 3, 2009, the Internal Revenue Service announced a reduction to the optional standard mileage rates for 2010. For the year 2010, the optional standard mileage rate will reduce from 55 cents to 50 cents per mile. Taxpayers have the option of using the optional standard mileage rate to calculate deductible costs of operating an automobile for business purposes. …
New EEOC and Colorado Minimum Wage Posters
New Posters Effective November 21, 2009 ALL employers are required to post the new Equal Employer Opportunity Poster. This notice now includes Genetic Information Nondiscrimination Act of 2008(GINA), which prohibits genetic information discrimination in employment. Effective January 1, 2010 all Colorado employers are required to post the new Colorado Minimum Wage Order Poster. This notice explains what rights and protections …
Warning: IRS Increasing Audits for the Next Three Years
IRS will audit 2,000 taxpayers each year for the next three years. Beginning February 2010, the Internal Revenue Service will begin employment tax audits on 2,000 randomly selected taxpayers (employers) per year for the next three years. The IRS states that they are conducting this study “to collect data that will allow the IRS to understand the compliance characteristics of …