The notice provides an optional interim simplified method of determining whether a corporation is an applicable corporation for purposes of the corporate AMT and relief from the Sec. 6655 penalty for ...

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 ...

The wealthy often avoid earned income, which means they escape payroll taxes entirely and ordinary income rates under the income tax. In addition, they can avoid capital-gains taxes by not selling ...

ITAT Delhi overturned the CIT(Exemption)’s rejection of 12AA registration, ruling that corpus grants should not be assessed at the registration stage but under section 11 exemption ...

Intended to bolster local access to lending, large credit unions today are swallowing up community banks. A Trump purge has reduced their oversight.