Income Tax – Income Tax Guide 2023, Latest News, IT Return, Slab, Tax Saving, Income Tax Act and Laws

Financial year The financial year is a one-year period that the taxpayers use for accounting and financial reporting purposes. It is the year in which the income is earned. According to the Income Tax Act, such a period begins from 1st April of the calendar year to 31st March of the next calendar year. It […]

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How to keep your personal and tax information safe

How to keep your personal and tax information safe

Recently the Taxpayer Advocate Service (TAS) learned that some taxpayers have concerns about callbacks they are receiving from TAS case advocates requesting personal information. These days it’s understandable for anyone to be anxious about verifying that calls are from employees of a legitimate government agency and not scammers. So how can you know if a

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Making These 6 Common Tax Mistakes Could Trigger an IRS Audit. Here’s How to Avoid Them

Making These 6 Common Tax Mistakes Could Trigger an IRS Audit. Here’s How to Avoid Them

This tax season, the IRS said it’s adding staff and technology to “reverse the historic low audit rates” on high-income taxpayers. Filing season can already be a stressful time for many people, between having to navigate countless forms and compiling all of the correct information. The looming threat of an audit can ratchet up the stress of

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