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Davis Tax Services, LLP
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Tucson, AZ 85712
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Tax Tips & Topics
Enrolled Agent

What's New for 2016 tax year

Security is at the forefront of IRS changes this year. Refundable credits -- Earned Income Credit, Additional Child Tax Credit, American Opportunity Credit -- are particularly likely to filed fraudulently. Refunds that involve those credits will be delayed will be delayed while IRS verifies them. Additional documentation, including driver's licenses, will be needed to claim these credits.

Because April 15 falls on a weekend again this year, the filing deadline will be Tuesday, April 18. Arizona had a number of significant changes that affect 2016 returns. Read about Arizona changes here.

The Protecting Americans From Tax Hikes (PATH) Act. passed in December, 2015, extended about 50 expiring tax breaks plus numerous other provisions, many of which take effect for 2016. Highlights that may affect you are available here.

Standard mileage rates. The 2016 rates for use of your vehicle declined:

  • Business use: 54¢
  • Moving or medical: 19¢
  • Charity: 14¢ (unchanged)
  • For more information about tax changes for 2016, look at:

  • What's new for 2016
  • Cost of Living Adjustments for 2016
  • Cost of Living Adjustments for 2017
  • 2016 Retirement Plan Limits
  • 2017 Retirement Plan Limits
  • Social Security Cost of Living Adjustments

  • © 2006 Davis Tax Services. This material is provided as general information only and is designed to supplement our professional advice which is provided individually.