The CBDT department has announced an extension for the filing deadline of income tax returns under section 92E is 15th December 2024 from 30th November 2024. Read Circular The deadline to submit your income tax return for 2024-25 has been extended to November 15, 2024, for audit cases. Re...
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Additionally, no two tax software programs have all of the same features. Tax expert advice and support differs (or is not offered at all), audit protection differs, in-person support (if needed) differs, forms supported differs, data import capabilities differ, and so on. So, what I’ve ...
'Where's my refund?' How to check the status of your federal tax refund Could Trump's tariffs replace the income tax? Here's what economic policy experts say Big interest income in 2024 leads to taxes in April. Prepare for tax season ...
However, for first used vehicles your HVUT is due the last day of the month following the first used month. For example, if you first use a new vehicle in April then your 2290 is due by May 31st. Anyone who is filing a return for 25 or more vehicles is required to file ...
The Multistate Tax alert archive includes external tax alerts issued by Deloitte Tax LLP's Multistate Tax practice during the last three years.
Although contributions to 529 plans are not tax-deductible at the federal level, many states offer tax deductions or credits for contributions. Contributions to a 529 plan grow tax-free and can be withdrawn tax-free if used for qualified education expenses. Taxes and penalties may apply if 529...
25000 in income tax is due on a total income of Rs. 7 lakh. According to the new proposed amendment, everybody with an annual taxable income of up to Rs 7 lakhs is now qualified for a Rs 25000 income tax rebate. How Does the Rebate Work in Real Life? Ordinarily, Individuals are ...
(MNE). In return, the program offers MNEs a level of tax certainty through audit protections provided by the participating tax administrations regarding the multinational’s low-risk covered transactions for a specified period. MNEs interested in participating in ICAP need to provide two packages of...
FBAR penalties accrue on the date the FBAR form is due, not the date the penalty is assessed, a district court held. February 1, 2025 Frivolous-tax-return penalty sustained The Tax Court found all requirements of Sec. 6702(a) were met regarding the taxpayer’s zero-wage and -income retur...