Ultimately, the deductibility of payments in lieu of penalties would depend on the facts and circumstances of each case, ...

Your tax filing status—single, married, or head of household—can affect how much money your employer withholds from your ...

Millions of Americans who were granted tax filing extensions have until 11:59 p.m. on Wednesday to file their returns.

An estimated 20 million taxpayers will need to file before this week’s deadline, the Internal Revenue Service (IRS) warned ...

Former owners of a northeastern Arizona steakhouse are accused of forging their tax return and funneling restaurant funds ...

Francisco Gil tried to claim his status as an independent contractor entitled him to tax deductions for travel, meals and marketing expenses. The IRS and a federal judge said he was in fact an ...

The IRS introduces Schedule 1-A for 2025, letting you deduct qualified tips, overtime pay, vehicle loan interest, and enhanced senior deductions, following the OBBBA legislation.

Taxpayers face a learning curve for figuring out how key tax deductions in the mega tax bill will work when they file 2025 tax returns next year.

The deadline for filing income tax audit reports is October 31, 2025, for eligible taxpayers, who must use forms 3CA, 3CD, and 3CB. Late submissions may incur penalties. Recent amendments to Form 3CD, ...

The Federal Board of Revenue (FBR) on Friday announced the removal of the “Estimated Fair Market Value” column from income tax return forms for 2025, following the approval of Prime Minister Shehbaz ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

The Federal government through the Nigeria Tax Act (NTA) has brought about sweeping reforms in the property sector as tenants can now redeem 20 per cent of their rent as rent relief of up to N500,000 ...