The ITAT Bangalore held that penalty under Section 271FAA cannot be imposed mechanically where delay in filing the correction statement of financial transactions (Form 61A) is caused by genuine ...

Nagpur: What began as a routine verification turned into a staggering revelation. In a district once synonymous with Naxal insurgency, not financial - Nagpur News ...

U.S. taxpayers preparing to file returns for 2025 — deadline April 15, 2026 — have one fewer free option this year.

A new tax deduction for tip income is available for 2025 federal income tax returns. Learn the new form to file, who qualifies, and income limits.

As tax season kicks off, families with minor children can now register for Trump accounts. To open the account, an election must be made on IRS Form 4547. Form 4547 can be filed separately or with ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Incorrect IRS Forms 1099 are a worry, since Forms 1099 generally ...

The 2026 tax filing season has begun, and the Internal Revenue Service (IRS) is now receiving and processing millions of returns. Preparing taxes can cost hundreds of dollars, but several programs ...

Tax season officially began Jan. 26, which makes now the time to file. But before you sit down to file your taxes, here's what's needed to properly file. Also, make sure you know the deadline. The ...

The enhanced deduction for seniors applies on 2025 tax returns to adults born before Jan. 2, 1961. If you're 65 or older now, you can claim an additional deduction of up to $6,000 or $125,000 for ...

Reporting cryptocurrency on your taxes is changing for the 2026 tax season. This year, the IRS is introducing a new dedicated crypto tax form called 1099-DA for all "digital asset proceeds from broker ...

Every year, thousands of individuals leave Canada, earn income from Canadian sources while living abroad, or arrive in Canada without establishing permanent ties, and each of these situations creates ...