Navigating the complexities of tax season can be daunting, especially if you're unable to file your taxes by the April 15 deadline. Fortunately, the IRS offers a solution: a tax filing extension.

In this manner, capital gains are able to be deferred by buying a similar investment ... investment real estate and incur no immediate tax liability. Under Section 1031, if you exchange business ...

If you’re a freelancer or have your own business and get paid through a third-party app, you may find a new tax form in your ... costs and more to offset that liability.

(Pixabay) I have never filed my ITR, as my tax liability has been nil. Now, I am planning to apply for a home loan, so I would need to present ITR to the bank. I want to file my ITR online alone ...

Benjamin Franklin famously said that "death and taxes" are the only two certainties in this world. Well, the timing of the first certainty is unclear. But you can reliably count on tax season to ...

The Wall Street Journal reported on Jan. 24, 2025, that this could result in substantial tax liabilities for the company despite its not having sold any Bitcoin to realize profits. In addition to ...

Regardless of this fact, alimony is a financial transaction and like all financial transactions are required to stand the scrutiny of income tax liability. So, do the beneficiaries receiving alimony ...

Required withdrawals from retirement accounts and income from other sources can also affect your tax liabilities. That’s why it's crucial to know how common sources of retirement income are taxed.

This is notably different than what is required under FRS 102, Section 21 Provisions and Contingencies (and IAS 37 Provisions, Contingent Liabilities and Contingent Assets) in that recognition of a ...

But if a business does comply with the president's order, it will have to collect the deferred taxes from their workers' paychecks ratably from January 1 to April 30, 2021. So, during the first ...

How capital gains taxes work—and how you can minimize them Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary public, certified VITA tax preparer, IRS annual ...