House Republicans have included a boost to the Child Tax Credit in their proposed spending package legislation but not everyone will see the benefits.

The Internal Revenue Service is facing a busy and uncertain future, with major staffing cuts, a decrease in funding, and high turnover — including a veritable revolving door of acting commissioners, ...

If you received tax-exempt interest, you should get a Form 1099-INT or a Form 1099-OID. You can find your tax-exempt stated interest in box 8 of Form 1099-INT. For a tax-exempt Original Issue ...

It is advisable to consult the official Income Tax website to confirm which form should be used while filling out returns. ITR-1 can be used by resident individuals with an income less than Rs 50 ...

The office of the Treasury Inspector General for Tax Administration has sought a wide swath of information from IRS employees. In particular, the office is seeking any requests for taxpayer data ...

AUSTIN (KXAN) — The Austin Police Department said 28 people were “exposed to a package with an unknown substance” inside a room at a southeast Austin IRS facility Friday afternoon.

A number overpayments of Output Tax (£500,000) have been made on previous VAT returns by previous incumbent, these have been assigned to VAT @ 20% on returns and paid to us by our customer but should ...

No one wants to be audited by the IRS. And, in fact, very few US taxpayers have been in recent years. Less than 1% of all returns filed between 2013 and 2021 had been audited as of the end of ...

Marginal tax rates form the backbone of today's progressive taxation systems, which are used in many nations worldwide. It's a system meant to ensure that moving into a higher tax bracket only ...

Salaried individuals who file income tax returns annually should take note of key changes introduced by the Income Tax Department in the format of Form 16—the document that outlines salary, tax ...

every year should be aware that the tax department has introduced some changes in the format of Form 16 related to tax deduction and perquisites. The changes effected in the Form 16 format will ...

Starting in 2025, homeowners must include a Product Identification Number (PIN) from the manufacturer when filing IRS Form 5695. Only existing homes used as a primary residence qualify. New builds and ...