Summary: The Finance Bill 2025 proposes significant amendments to the Income Tax Act, particularly regarding tax slabs, deductions, and compliance procedures. Under the new tax regime, the income tax ...

"When taxpayers expect prompt customer service and smooth processing of their tax returns, the administration has chosen to decimate the whole operation by sending dedicated civil servants to the ...

The IRS cautions taxpayers not to rely on receiving a refund by a certain date, especially when making major purchases or ...

States with net losses of residents are developing innovative and aggressive ways to capture tax revenue from their ...

However, it observed that mere suspicion or assumption of payment could not justify an addition, especially in the absence of concrete evidence linking the amount to undisclosed income. Relying on CIT ...

Even if none of your data gets mislaid, copied or hacked, it's a good idea to store copies of some key federal records for ...

Could a 10% flat tax — based on traditional notions of tithing — bring more sanity and equity to the U.S. tax code?

A new study reveals that Donald Trump’s proposal to replace federal income taxes with tariffs could save the average American ...

The Colorado Department of Revenue announced Friday that the state has started processing income tax returns from third-party ...

Those concerns are valid according to accountants, who are strongly advising people to file early this year, as they could ...

Colorado's Department of Revenue has begun processing tax returns from services like TurboTax and H&R Block, following delays ...

Deductions related to salary, including standard deduction and leave encashment, are now grouped under a single clause ...