The One Big Beautiful Bill Act reshapes core elements of international taxation, including the rules for controlled foreign corporations, foreign-derived income and base erosion taxes.

Taxpayers face a learning curve for figuring out how key tax deductions in the mega tax bill will work when they file 2025 tax returns next year.

The IRS on Friday released a draft of Schedule 1-A (Form 1040), Additional Deductions, which includes sections for calculating four deductions allowed under H.R. 1, P.L. 119-21, commonly known as the ...

An IRS attorney can move forward with a claim that the agency unlawfully discriminated against her when she didn’t receive an assistant manager branch manager position for which she applied. Kara ...

The IRS was not entitled to a presumption of proper mailing for a notice with an erroneous address that it contended the taxpayer nonetheless received timely, the Tax Court held.

(NEXSTAR) – The self-described tax experts of TikTok and other social media sites have cost American’s $162 million in penalties since 2022, the IRS said in a news release Monday. Advice on the most ...

IRS rules research and development services U.S. entities provide to their foreign parent principal company may be characterized entirely as foreign-derived deduction eligible income purposes.

ISLAMABAD: After repeated promises of simple form, the Federal Board of Revenue (FBR) has finally issued a comprehensive income tax return form for traders for tax year 2025. The return form for the ...

The Federal Board of Revenue (FBR) has issued the new five-page income tax return form for traders for the year 2025. The form seeks detailed business, financial, and personal information from ...

Many taxpayers are confused about Form 10-IEA, which is required for opting in or out of the new tax regime, especially those with business income using ITR3 or ITR4. Missing the filing deadline ...

The IRS has published a private letter ruling on Section 2056(b)(7), granting the taxpayer an extension of time to make a qualified terminable interest property (QTIP) election on a supplemental Form ...

If you are wondering about a previous stimulus check or waiting on a tax refund from the IRS, here's and update on how to check status, and what to know about the new American Worker Rebate Act of ...