The Latest Breaking News from Tax Return

IRS Free File Is Still Available for Many Extension Filers Before the October 15 Deadline

If you requested extra time to file your 2025 federal income tax return, the clock is running out, but you may not need to spend...

Saving Advice · Oct 8

Michigan woman accused of hiding $1.66 million after reporting $39,960

A Michigan woman pleaded guilty after prosecutors said she failed to report more than $1.6 million in income from 2021 to 2024, including cash embezzled from her employer and gambling proceeds. The understatement caused a $535,605 tax loss, which she agreed to repay. She also agreed to repay $1.75 million…

The Times of India · Oct 7

These 7 Income Moves Could Raise Your Medicare Premiums Two Years From Now

A profitable financial move in 2026 can produce an awkward little sequel in 2028: a higher Medicare bill.

The Free Financial Advisor · Oct 7

Grain trader deposited Rs 5.2 crore cash in bank, filed ITR declaring Rs 7.65 lakh income, got unexplained deposit income tax notice; won case in ITAT Delhi for this reason

When Mr Kumar, a grain trader from Rampur deposited Rs 5.2 crore cash in his bank account and filed an Income Tax Return (ITR) declaring Rs 7.65 lakh income, this raised many red flags within the income tax systems. He wins case in ITAT Delhi.

The Economic Times · Sep 28

IRS Opens 2027 Corporate Tax Compliance Program — Applications Due October 30

Large corporations interested in resolving federal tax issues with the IRS before filing their returns have a limited window to apply for a program designed to do exactly that. The Internal Revenue Service announced on September 8 that it is accepting applications for the 2027 Compliance Assurance Process, commonly known…

The Free Financial Advisor · Sep 9

OnlyFans star, who made $5.4M, jailed in Florida over false tax return

Natalie Monroe, real name Kylie Leia Perez, had more than 2.8 million followers across various platforms

The Independent UK · Sep 8

IRS Urges Taxpayers to Get an IP PIN to Help Stop Tax Identity Theft

The IRS is urging taxpayers to take several steps now to make it harder for identity thieves to use stolen personal information to file fraudulent...

Saving Advice · Sep 8

How Salaried Indians Can File Their ITR Without a Last-Week Panic Over Documents and Deductions

Start With Form 16, Everything Else Follows From ItForm 16 is the one document your employer is legally required to give you by June 15 each year, and it does most of the heavy lifting for a salaried ITR. Part A of Form 16 shows the TDS your employer deducted…

Times Life · Sep 6

REITs and InvITs: Despite tax-free dividends, non-resident investors may need to file ITR to claim a refund of TDS

The Taxation and Other Laws (Amendment) Act, 2026 addresses existing dividend tax discrepancies for unitholders by granting unconditional exemptions. Despite this, the established withholding tax regulations for BTs have not been modified, leading to possible inconsistencies. Non-resident investors may need to submit tax returns to retrieve withheld taxes, highlighting the…

The Economic Times · Sep 4

Missed August 31 ITR deadline? Know what ITR 3 and ITR 4 filers can do now

ITR deadline: By the end of August 31, 2026, over 7.8 crore individuals completed their income tax return submissions. Those who did not file on time have until December 31, 2026, to submit a belated ITR, incurring possible late fees. Notably, failing to meet this deadline also prevents taxpayers from…

The Economic Times · Sep 1