NEXT explains that if you're an independent contractor, it's your job to pay taxes on your own—and you'll want as many 1099 ...

1. Deduct tax and deposit the same along with interest and penalty implications; 2. Alternatively, forego the HRA exemption ...

IRS audits have a way of killing the vibe during tax season. While the Internal Revenue Service is going through some major ...

Note on Correction of TDS Statements in view of amendment in Section 200(3) of the Income Tax Act vide Finance Act, (No. 2) 2024 Summary: The Finance Act (No. 2) 2024 introduced changes to Section 200 ...

Super rich people may avoid paying more than $160 billion in taxes every year, the Treasury says. Here are six strategies they use to do that.

That means your CD interest is taxed at your ordinary federal income tax rate based on your tax bracket. Tax rates for the ...

Missing advance tax deadlines can lead to unnecessary interest charges. A simple declaration to your employer can help ...

Be aware of the income limits associated with IRAs and Roth IRAs to see if you're eligible for a tax deduction ... but many others do not. Set a reminder for yourself to log back into your ...

The U.S. tax code does not allow taxpayers to deduct penalties assessed by the Internal Revenue Service. However, they may ...

It is conceivable that Trump could sway congressional Republicans to include a carried interest reform in the sweeping tax ...

While deductions and credits can both positively impact your tax bill, credits can have the most influence. With a deduction, ...