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 ...
Taxpayers who want to claim some attractive new income tax deductions that were packed into the One Big Beautiful Bill Act will need to keep their records — and get ready to file yet another form to ...
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, ...
Thousands of dollars in potential tax savings are available — but only through the end of the year. By Rachel Wharton The Inflation Reduction Act made home-renovation history in 2022 by expanding tax ...
The Internal Revenue Service, working with the U.S. Department of the Treasury, announced that paper tax refund checks for individual taxpayers will be phased out beginning on Sept.
The CBIC has notified changes to the annual GST return form GSTR-9, making the reporting of Input Tax Credit (ITC) more comprehensive. The Central Board of Indirect Taxes and Customs (CBIC) on ...
If your late loved one was generous with gifts, then unless they kept good records you might have to turn detective when filling in inheritance tax forms. Even when an estate is not large enough to ...
Q: I plan on purchasing gold coins for investment and possibly provide gifts to some relatives. What are the tax considerations if there are increases in value. A: An excellent source for this issue ...
In accordance with the International Monetary Fund’s (IMF) guidelines, President Anura Kumara Dissanayake, in his capacity as Finance Minister, has issued a gazette reducing the duration and scope of ...
The Gazette offers audio versions of articles using Instaread. Some words may be mispronounced. In his role with the Sierra Club’s Iowa City Chapter, Tom Carsner has spent a lot of time in recent ...
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Why Borrowing, Not Selling, Is the Secret Tool Crypto Whales Use to Legally Minimize Taxes
Crypto whales avoid triggering taxable events by borrowing against their holdings instead of selling them. Selling large amounts of Bitcoin or Ether could expose whales to short-term rates up to 37% ...
Tipped workers will be able to deduct up to $25,000 in tips from their taxable income beginning in 2025. To help sort out the details, the Treasury and the IRS are rolling out additional guidance.
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