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 ...

Many taxpayers revising their Income Tax Returns this year are hitting an unexpected snag. Details of foreign assets or overseas income simply aren’t showing up in their revised forms. The tax ...

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

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

Many taxpayers face issues with missing foreign asset and income details in revised Income Tax Returns. If a taxpayer has any ...

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