IRS audits of higher income taxpayers increase The IRS audited one in eight individuals with incomes over $1
million in fiscal year (FY) 2011. While the overall audit coverage
rate for individuals remained steady at just over one percent, the
a...
Tax gap grows to $450 billion; compliance rate holds steady The "gross tax gap," or the amount of tax owed to the U.S.
government that is not paid on time, climbed from $345 billion in
Tax Year (TY) 2001 to $450 billion in TY 2006, the IRS has
reported. (Be...
AR - Standard mileage rate revised for second half of 2011 The Arkansas optional standard mileage rate used by individuals in
computing personal income tax business deductions is 51 cents per
mile for expenses paid or incurred during Janua...
MS - Redemption period not extended due to bankruptcy A Mississippi property tax sale was upheld because the prior owner
of the property received adequate notice of the suit to quiet title
and bankruptcy laws did not extend the redemp...
TN - Poultry environmental control equipment exempt Doors, diffusers, and inlets installed in a poultry building are
exempt from Tennessee sales and use tax as part of a system for
poultry environmental control when sold to a qualif...
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