The Internal Revenue Service (IRS) has recently released a new form, 15620, which will significantly impact the way taxpayers ...

Non-US financial accounts are reported on FBAR. Penalties can be severe but it is often more difficult for IRS to enforce ...

Although coverage of the 2024 election was dominated by the economy, taxes didn’t get much attention in the run-up to the ...

ISLAMABAD: The Pakistan Tax Bar Association (PTBA) has expressed serious concern that Tax Laws (Amendment) Act ...

Chennai ruled in favor of the assessee, Chola Business Services, regarding the concessional tax rate under Section 115BAA of the Income-tax Act, 1961, for the Assessment Year (AY) 2021-22. The company ...

Several left-of-center groups designed to look like local advocacy organizations pulled in millions from an influential D.C.-based dark money behemoth ...

Calculating the home office deduction using the standard method involves completing IRS Form 8829 to calculate the amount of ...

Form 16 is a certificate issued by employers to their employees, detailing the Tax Deducted at Source (TDS) from salary income. It serves as proof that TDS has been deducted from an employee’s salary ...

Tax exemptions are applied before tax rates are calculated ... or other specific types of entities. Why Do I Have to Fill Out ...

Filing taxes may appear overwhelming due to the various slabs, exemptions and the different Income Tax Return (ITR) forms issued by the IT department. This confusion is especially prevalent among ...

When a disaster strikes, it’s best to act fast so you can get reimbursements sooner rather than later. Here’s how to get your tax documents back, according to the IRS.