Tax professionals say such errors are common due to changes in form applicability and taxpayer profiles. However, the filing can be corrected if appropriate steps are taken in a timely manner.

Speculation of a fourth stimulus check surfaced on social media and unverified websites, however, there has been no official confirmation from the IRS.

Understand ITR filing requirements for salaried individuals, including applicability, forms, deductions, tax regimes, and a step-by-step guide for AY

Earned Income Tax Credit (EITC): This is for low-to-moderate working individuals and families. The amount of the credit depends on your income, marital status, and the number of children you have.

ITR form selection is vital for tax returns. ITR-1 suits salaried individuals with income up to ₹50 lakh, whereas ITR-2 caters to a wider income spectrum. Filing the wrong form can cause rejection by the Income Tax Department and delay refunds.

Federal tax returns collect information about personal or businesses income, and help filers determine how much they may owe or receive as a refund.

Tax filing season has begun. The Internal Revenue Service is now accepting and processing 2023 federal income tax returns. Filing your taxes is a task you may not like, but it’s one you can’t ...

The Federal Board of Revenue (FBR) has issued draft of the electronic income tax return form for individuals and companies. The form, somewhat ironically

To do so, use Form 1040-X, (Amended U.S. Individual Income Tax Return). Avoid errors when figuring t ax credits and deductions: If you’re unsure how to figure your Earned Income Tax Credit (EITC ...