From "JournalofAccountancy.com"
By Jack Hagel and Alistair M. Nevius, J.D.
July 30, 2012

The National Association of Realtors has some tax advice for users of the internet: Don’t believe everything you read.

There has been a recent flare-up of chain emails purporting that, come Jan. 1, all real estate transactions will be subject to a 3.8% federal sales tax. The problem: That’s not true.

“This is grossly inaccurate,” said Stephanie Singer, a spokeswoman for the Washington-based Realtors association. “It’s not a sales tax on all properties.”

Recently, Keystone Collections Group, the bureau that took over the local tax collection services for the Lebanon County Earned Income Tax Bureau and several other local tax agencies has been mailing statements to taxpayers stating that additional taxes are due for tax year 2009. The agency has collected information from the Pennsylvania Department of Revenue for every taxpayer’s individual 2009 tax return. They are then cross-matching the PA income with the income reported on the taxpayer’s 2009 Local Earned Income Tax Return.

As a result of Hurricane Irene and Tropical Storm Lee IRS has postponed deadlines for Pennsylvania taxpayers who reside or have a business in a federal disaster area until Oct. 31, 2011. This includes corporations and other businesses that previously obtained an extension until Sept. 15 to file their 2010 returns.

In response to rising gasoline prices, the IRS has raised the standard mileage rate for business use of an automobile from 51 cents per mile to 55½ per mile, effective July 1 (Announcement 2011-40). The medical and moving standard mileage rate is increasing to 23½ per mile, also on July 1.