How Are I Bonds Taxed? 8 Common Situations

Series I U.S. savings bonds are a popular investment, but the federal income tax consequences are anything but ...

IRS releases guidance for Trump's 'no tax on tips' and overtime deductions: What to know

The IRS released new guidance for no tax on tips and overtime deductions under the One Big Beautiful Bill Act. Eligible ...

New York's wealthy warn of a tax exodus after Mamdani's win, but data says otherwise

New York's mayor-elect, Zohran Mamdani, campaigned on a promise to raise the city's income tax on its richest residents from 3.9% to 5.9%. Combined with the state income tax, which is 10.9% for the ...
Young and the Invested on MSN

Powerball after taxes: How much will the $719m winner keep?

What will the extra lucky winner do with their $719 million Powerball Jackpot? The odds of winning the jackpot are 1 in 292.2 ...

New York’s wealthy warn of a tax exodus after Mamdani’s win – but the data says otherwise

(THE CONVERSATION) New York’s mayor-elect, Zohran Mamdani, campaigned on a promise to raise the city’s income tax on its richest residents from 3.9% to 5.9%. Combined with the state income tax, which ...
Tax Guru

Genuine Misunderstanding of VRS Exemption Not “Under-Reporting”

The Tribunal emphasized that an error regarding VRS exemption made by a salaried, non-technical taxpayer cannot be classified as deliberate under-reporting. With no false claim or suppression, the ...
JD Supra

Summary of the final regulations on the excise tax under Section 4501

On November 21, 2025, the U.S. Treasury Department (“Treasury”) and the Internal Revenue Service (the “Service”) released final regulations ...
Tax Guru

ITAT Upholds Section 11 Rights Despite Belated Form 10B Correction

ITAT Mumbai restored exemption under section 11(1)(a) despite a clerical mistake in Form 10B. The original form was timely filed, and the revised form only corrected the error, ensuring the trust’s ...
Emporia Gazette

New look property tax statements to hit mailboxes "any day"

Lyon County property tax statements for the 2025 tax year are expected to arrive in mailboxes “any day” according to County ...
Tax Guru

GST Order Quashed for Ignoring Explanation on GSTR-3B vs 2A Differences: HC Orders Fresh Hearing

High Court quashed a GST adjudication order where authority failed to consider petitioner’s explanation regarding alleged differences between GSTR-3B and GSTR-2A, remanding matter for fresh ...
Tax Guru

Technical Delay Cannot Justify Refusal of Section 80G Approval: ITAT Orders Fresh Review

The Tribunal held that rejecting an application solely for delayed filing was improper and directed a denovo review under Section 80G. The is that delayed applications may still be examined on ...
Tax Guru

Service Tax Cannot Be Demanded Only for Mismatch in Income Tax-Service Tax Return

Tribunal holds that service tax cannot be demanded solely on differences between income tax and service tax returns. The ruling confirms that exemptions and disclosures must be verified through proper ...