The VITA program, which the IRS administers, began after the Tax Reform Act of 1969 and provides free tax filing assistance ...

The recent Union budget has raised the annual income threshold ... Meanwhile, untaxed wealth flourishes, thanks to tax loopholes and various forms of patronage. The worst part is that despite ...

The deadline for submitting Self Assessment tax forms was 11.59pm on Friday ... Anyone who had to pay the High Income Child Benefit Charge; Anyone with untaxed income, such as money from renting ...

In southeastern Michigan, tax filers can find ... year return using the system. Go to IRS.gov/freefile for more details. Taxpayers at any income level can use the Free File fillable forms.

New Income Tax Bill: The Union Cabinet has approved the New Income Tax Bill, which aims to replace the 1961 Act by simplifying direct tax legislation. This proposed bill, featuring clearer ...

The IRS estimates one in five eligible taxpayers don’t claim the earned income tax credit on their tax returns, missing out on thousands of dollars.

The Rs 3 lakh in capital gains would be taxed separately at 12.5%, without any rebate benefit. This means the taxpayer will still have to pay tax on that portion of their income, even if their ...

The formula to calculate ... Indians (NRIs). Old Tax Regime vs New Tax Regime The better option between the two income tax slabs depends on your annual income and the benefits you may receive.

Millions of taxpayers face paying more income tax due to frozen tax allowances. We explain how income tax is calculated.

While adding to your family is an exciting time, a new child also creates some costs you’ll want to offset whenever possible. One money-saving move involves revisiting your tax situation.

Tax on subsequent amount of 4 lakh (from 4 lakh to 8 lakh) Rs 20,000 (being 5% of Rs 4 lakh) Tax on subsequent amount of 4 lakh (from 8 lakh to 12 lakh) Rs 40,000/- (being 10% of Rs 4 lakh) Tax on ...