Form 8582 helps individuals who earn income from rentals or businesses in which they don't actively participate—known as passive activities—determine the losses they can deduct on their tax return for that year.Oct 16, 2024 TurboTax - Intuit https://turbotax.intuit.com › tax-tips › re...
Why Is Your Tax Refund Delayed? Here are some reasons your tax refund may take a while to receive this year – and tips for what you can do if yours is late. Kimberly LankfordApril 23, 2025 Don't Let Food Eat up Your Budget
The IRS kicked off the new tax filing season on January 29, which means that taxpayers will have between that date and April 15 to file their returns. If you need more time, you can request an extension, which gives you until mid-October to file. Residents of Maine and Massachusetts have...
5. Avoid penalties and late filing fees The Income Tax Department can impose a penalty of up to ₹5,000 for delayed filing or non-filing of an ITR. An additional penal interest on the unpaid tax liability will also be levied if you're filing return after the due date. 6. Contribute...
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MORE: What's new for tax filing in 2024 Tax professionals can also assist filers in obtaining an extension. The extension request must be submitted by the end of the day on April 15. How long does a tax extension last? A tax extension lasts six months, meaning those who obtain an exten...
Last-Minute Tax Fun Facts Question: Does your filing date determine whether you receive a refund? Answer: Your filing date does not affect whether you are entitled to a refund. According to the IRS, however, over 70% of tax returns filed before April 1 receive refunds, while 61% of late...
3 Odd Tax Deductions Taxpayers who think outside the box might be eligible for some unique deductions. Jessica WalrackApril 10, 2025 Last-Minute Tax Filing You're not doomed if you've waited until the final weeks and days before the April 15 deadline to send in your return. ...
TAX E-FILING UP 35 PERCENT OVER LAST YEAR
(1). Once Form 10-IE is filed within the due date for filing original ITR , the claim for new tax regime can be made in originalITRunder section 139(1) or belated return under section 139(4),” according to Amarpal S. Chadha, Tax Partner and Mobility ...