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.

Under the bill Trump signed into law on July 4, the U.S. Treasury Department must publish a list by Oct. 2 of occupations ...

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.