The U.S. tax code does not allow taxpayers to deduct penalties assessed by the Internal Revenue Service. However, they may ...

Mumbai has upheld the order of the Commissioner of Income Tax (Appeals) [CIT (A)] in the case of ACIT vs. Jamnagar Utilities and Power Pvt. Ltd., allowing deduction under Section 80G for Corporate ...

I. Investing for tax deduction: Investors must invest before March 31 to be able to claim tax deduction for the financial ...

Fortunately, you’ll find some light at the end of the tax year: federal tax credits and deductions that apply directly or indirectly to caregiving costs. Here are some ways family caregivers may be ...

Ken and Klee provide assistance to Indiana state taxpayers by offering helpful hints. The hints are in acronym form using ...

Often federal tax returns are denied because of errors made by the taxpayer. These errors are often easily fixed if ...

Shah Vs. Deputy Commissioner of Income Tax (DCIT), ruled on the disallowance of a deduction under Section 80-IA due to the delayed filing of Form 10CCB. The case stemmed from the Centralized ...

With taxes, it can pay to keep things simple. These 5 tax deductions let you trim your tax bill without itemizing.

Tipping has been part of the modern-day American restaurant experience for decades. Like most forms of income, these tips are taxable and subject ...

Your aging-in-place plan could benefit from the medical expense tax deduction. But watch out for capital gains and property ...

On the menu: more than 200 ideas, ranging from the estate tax to housing credits and loosening the cap on the state and local ...

Understand what tax liability is, how it's calculated, and its impact on your finances. Learn about different types of tax ...