Discover how IRS Form 1065 helps partnerships report income and deductions. Learn how it’s crucial for completing partners’ tax returns with Schedule K-1 allocations.

Taxpayers must disclose foreign assets and income in revised ITR by December 31. Failure to report can lead to penalties.

Explains how the IRS defines self-employment, including sole proprietors, contractors, partners, and gig workers, and clarifies who must comply with SE tax ...

Get ahead of the tax season crunch by collecting these tax documents throughout the year. Here's what you need to keep an eye out for.

The One Big Beautiful Bill Act, which was signed into law in July, created several new tax provisions and made changes to others that are in effect for this year. So it’s worth having the rundown of ...

Delhi High Court held that denial of benefit of Input Tax Credit [ITC] due to non-filing of TRAN-1 not justified since the ...

In this week's Ask the Editor Q&A, Joy Taylor answers questions on itemized deductions claimed on Schedule A of Form 1040 ...

The last Social Security benefit of 2025 will be dispersed this week, and January's SSI check comes next week. Learn how the ...

There are no secret loopholes for day traders, only informed choices. Trader Tax Status lets you run trading as a business. Section 475 (f) Mark to Market turns that business into one that can ...

Discover when dental insurance premiums are tax-deductible and understand exclusions. Learn about coverage types and how cosmetic procedures impact deductions.

The board approved the proposed levy at an increase of 11.98% over the 2025 levy, for a total levy amount of $35,331,743.