IRS Form 1120-S is specifically designed to report the income, gains, losses, deductions, credits, and other financial information of a domestic corporation or other entity that has elected to be ...

The dividends received deduction (DRD) is a special tax deduction applicable to certain corporations in the U.S. that prevents triple taxation.

You report your parking and other expenses on your own tax returns. With a C corporation, your company reports its costs as a business expense on Form 1120, the corporate tax return.

Republicans are trying to create tax deductions for tips, car loan interest and overtime pay. Experts say they wouldn’t ...

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

All told, 16.1 million individuals claimed some form of tax deduction through the financial year, resulting in an average claim of $3,518. The full suite of ATO data is available here.

Salaried employees will soon receive their Form 16 for Assessment Year 2025–26, featuring a more detailed breakdown of salary components and newly integrated tax disclosures.

This deduction also starts to drop by $100 for every $1,000 the taxpayer's adjusted gross income exceeds $150,000 ($300,000 filing jointly).

Reject offers to file bogus deductions promising 100% refunds -- penalties now reach 200% for false claims. Don't Ignore AIS Alerts: Address discrepancies in AIS or Form-26AS before filing.