1. The IRS has issued new incentives for businesses under the Economic Stimulus Act for the tax year 2008. This includes a special 50% depreciation allowance on certain qualified property, as well as an increase for total Section 179 deductions allowed.
2. Employer quarterly returns and quarterly B&O returns are due July 31st! Make sure that you get your information from April, May, and June turned into your tax preparer as soon as possible!
3. Next year when you file your 2008 tax return, you may be subject to a new deadline. If you own a partnership and you file an extension next year, your tax return will be due by September 15th instead of October 15th. This goes for Estates and Trusts as well. IRS NEWS THAT MAY AFFECT YOU 
1. Under the Mortgage Forgiveness Debt Relief Act of 2007, certain homeowners who were forgiven debt from their mortgages may be able to file for relief and escape having to claim the debt forgiveness as income. Talk to your tax professional for more details.
2. Always be aware of IRS email scams. I was recently emailed myself asking for personal information so my rebate could be loaded onto a credit card. THIS IS A SCAM!!! The email looks official and comes from an address that looks official as well. DO NOT BE FOOLED! The IRS does NOT send out emails and does NOT request personal information to be given out over the internet EVER!! To see what my email looked like follow this link. Phishing Scam TIPS FOR THE TAXPAYER
1. Keep tracking your mileage! The standard mileage rate increases on July 1st through December 31st to 58.5 cents in recognition of the increase in gasoline prices!!! If you need a handy mileage log, you can purchase them at the Tax Shack or at any office supply store.
2. It is half way through the year! Don't forget to take a look at your paystubs and make sure you are having enough withheld! Talk to your tax preparer if you are unsure.