The One Big Beautiful Bill creates and/or modifies a number of tax rules that impact taxation of business income, including ...

The IRS has released a notice withdrawing certain notices of proposed rulemaking containing proposed regulations on the treatment of built-in items of income, gain, deduction, and loss, taken into ...

The good news is that it is not really difficult to report 1099 rental income. Along with the tax return Form 1040, you will generally file IRS Form 1099-MISC, which the IRS uses to keep track of ...

ITR FY 2024-25 AY 2025-26: Salaries individuals must know the key differences between Form 16, Form 16A, and Form 16B. (file) Tax filing season begins for the financial year 2024-25, and the ...

Some US restaurants and servers oppose Republicans’ ‘no tax on tips’ budget proposal By DEE-ANN DURBIN The Associated Press, Updated June 19, 2025, 1:02 p.m.

Form 16 & ITR Filing 2025: It’s June 18. You must have received Form 16 from your employer to file the income tax return (ITR) for the assessment year 2025-26 (FY 2024-25). It neatly summarises your ...

The tax form 1099-C is used to record a cancellation of debt. While debt cancellation is good news for an individual or business, it still leads to more taxes. The IRS generally considers any ...

Federal taxpayers who earn income not subject to withholding may need to make estimated tax payments during the year.

Under updated IRS rules, third-party payment processors must now issue a 1099-K for total transactions exceeding $600 annually - a steep drop from the previous $20,000 threshold.

5. Eco-Friendly and Paperless: No need to print or physically handle documents. Digital Form 16 aligns with the government’s “Digital India" initiative and promotes a paperless ecosystem. How to File ...

Enter the amount at line 8299 on your form. If it is business income, enter this amount on your tax return on line 13499 1. If it is professional income, enter this amount on your tax return on line ...

The state’s bioscience industry was celebrating Wednesday after lawmakers approved a $55.8 billion, two-year budget that includes expanding the state’s research and development tax credit.