CA Himank Singla highlighted that foreign equity holdings such as ESOPs and RSUs must be disclosed in Schedule FA every year, ...

Taxpayers must disclose foreign assets and income in revised ITR by December 31. Failure to report can lead to penalties.

Discover how IRS Form 1065 helps partnerships report income and deductions. Learn how it’s crucial for completing partners’ tax returns with Schedule K-1 allocations.

Explains how the IRS defines self-employment, including sole proprietors, contractors, partners, and gig workers, and clarifies who must comply with SE tax ...

Accounting is riding a steady wave of tax prep work and individual and business tax consulting, according to a new survey — but challenges loom in the form of pricing questions (and intense internal ...

The One Big Beautiful Bill Act, which was signed into law in July, created several new tax provisions and made changes to ...

In this week's Ask the Editor Q&A, Joy Taylor answers questions on itemized deductions claimed on Schedule A of Form 1040 ...

The Income Tax Department is alerting taxpayers about foreign assets and income. Income earned from abroad requires reporting ...

This guide explains that disclosure under Schedule FA is mandatory, even for zero-income foreign accounts or unsold RSUs. Following calendar-year reporting and proper documentation helps avoid ...

Discover when dental insurance premiums are tax-deductible and understand exclusions. Learn about coverage types and how cosmetic procedures impact deductions.

Delhi High Court held that denial of benefit of Input Tax Credit [ITC] due to non-filing of TRAN-1 not justified since the ...

Tax professionals are already warning that the 2026 filing season could be bumpier than taxpayers are used to, with slower ...