Property taxes are the biggest share of the city’s revenue, making up 20% of the general fund that’s used to pay for most ...

Throughout the Bush and Obama years, Congress repeatedly debated permanent repeal of the death tax, cutting the rates, and increasing the exemption. The Democrats’ 2010 tax law set a 35% top rate and ...

Porter County has until the end of October to decide whether to impose an increase on the county's local income tax for 2026.

The Tax Court held that the IRS had not conceded a taxpayer’s liability for self-employment tax on freelance writing and memorabilia sales income by sharing information with the Social Security ...

State registered limited liability companies are a relatively new form of business entity. An LLC can be taxed as a partnership for federal income tax purposes, but its members (similar to ...

Any short difference of outward tax liability which is not reported in GSR1/GSR3B of the period and discharged in next year GST-3B Returns or through DRC-03 mentioned in table 10 of GSTR9 and ...

To avoid penalties, make sure you pay at least 100% of your previous year’s tax liability (110% if your income exceeds $150,000) or 90% of your current year’s tax liability.

Tax liability insurance can also be used outside the context of M&A transactions, to protect against tax risks associated with tax-free reorganizations, renewable energy investment tax credits ...

Income tax credits directly reduce a taxpayer's liability, potentially to zero, and some can even result in a refund. Key credits include the Saver's Credit for retirement contributions, various ...

In FY20, the number of return filers with zero tax liability was 2.9 crore or 44.75 per cent of the total filers. Now, the number and share in FY25 are 5.58 crore and 66.5 per cent respectively.

Also read | Income Tax Calculator FY 2025-26 Raising the basic exemption limit to ₹4 lakh reduces the tax burden on all taxpayers, especially those in lower income brackets. The introduction of a 25% ...