The Income Tax Department has reminded taxpayers that the deadline for filing the Tax Audit Report (TAR) is September 30, 2025. Under Section 44AB of the Income Tax Act, 1961, specific categories of ...

An audit is less dramatic than it appears in the movies – here's what to expect and how to help it go smoothly.

Forbes contributors publish independent expert analyses and insights. Nathan Goldman is a tax prof. at NC State Univ. As the onset of the new tax accounting reporting standard approaches, external ...

While IRS tax audits are rare, some filers worry their returns could be picked for examination. You can avoid future issues by keeping receipts and other records to support your claims, experts say.

LORIS, S.C. (WMBF) – A preliminary report shows that less than 25% of Loris hospitality tax funds may have been used properly. The Loris City Council listened to a presentation during Monday night’s ...

ITAT Chennai held that the assessees bona fide belief, based on the Departments consistent acceptance of interest income as Income from Other Sources, amounted to reasonable cause under Section 273B.

Taxpayers typically amend their returns to correct mistakes, claim missed deductions or report additional income. While the IRS does allow amendments, many worry that filing a Form 1040-X could ...