The Internal Revenue Service (IRS) requires employers and employees alike to use specific tax forms to accurately record wages, benefits paid, taxes withheld, and other essential financial information ...

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

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

Plus: The IRS has reopened, some tariffs have been reversed, tax filing status and marriage, professional sports stadiums on the public dime, tax trivia and more.

The Tribunal held that the CIT(A) erred in dismissing the appeal solely for non-payment of advance tax without first seeking clarification from the assessee. Since the assessee acted under a bona fide ...

ITAT Pune held that application for registration u/s. 12A r.w.s 12AB of the Income Tax Act cannot be denied for non-obtaining of prior permission of Charity Commissioner for loans since the same is ...

Tribunal emphasizes requirement of notice under section 153C for assessments in block period, quashing AY 2021-22 assessment framed without ...

Review your Social Security earnings record before 2026 to fix errors that could shrink future benefits. Learn how to check, correct, and protect your income.

What happens when the heart of a city begins to falter? In Chicago, the answer is now arriving in the form of property tax bills that are leaving many residents aghast. The median residential bill in ...

The Tribunal directed AO to compute Section 14A disallowance only for investments generating exempt income, following Rule 8D. The decision reinforces the need for precise calculation of disallowances ...

The Tribunal found that the authorities mechanically endorsed a factually incorrect premise, resulting in an unjustified DVO reference. Such a negligible 1.71% variation could not support an ...

The AO changed the charge from bogus payments to 69A ‘Unaccounted Sales’ without issuing a fresh notice, denying the assessee a proper hearing. ITAT remanded the matter for verification of documentary ...