If the old business was an S corporation, you'll have to file two returns: an appropriate one for the new business based on its legal status and Form 1120S for the old business, marked as final.

Freelancing can be notoriously difficult, but a new tax break might make things easier— that is, if you’re already wildly ...

Certain tax relief strategies can help small business owners resolve IRS debt without having to close, experts say.

The article discusses a recent decision of the Tax Court that disallows, under the judicially created public policy doctrine, ...

A consolidated tax return is a single income tax return filed by an affiliated group of corporations that combines their tax liability.

Looking to file taxes for your business? The best tax filing software depends on your business structure and needs. Here are our picks for the best tax software for small businesses.

Financial Literacy News: Income Tax Return Filing FY 2024-25: The Income Tax Department is enhancing ITR filing for FY 2024-25 to improve accuracy and reduce taxpayer burden.

As inflation drives up the cost of almost everything, more Americans are turning to second jobs or weekend side gigs—whether ...

Public Land Sales Return in Scaled-Back Form in Trump Tax Bill A new version of a plan to sell vast tracts of public lands to help pay for President Donald Trump’s massive package of tax cuts has been ...

I was the executor of her trust and told the attorney I hired to help settle the estate that I would file her final tax return. I never did. That was 10 years ago.

How to Claim Loss Due to Fire on Income Tax Returns. As with other casualty events, a fire can take a heavy emotional toll on you and a financial toll on your business. Insurance can help you ...