Tribunal held that deduction under Section 54 depends on amount actually invested in a new property and not on ownership proportion. Assessing Officer’s restriction to 50% due to joint ownership was ...

Discover the secret places where the rich hide money: from offshore tax havens to clever legal shelters — to reduce taxes and ...

The results from this profit-and-loss shell game are exactly what you’d expect. An ITEP study of the 296 most consistently ...

The Treasury Department and Internal Revenue Service are issuing rules that provide hundreds of billions of dollars in tax relief to big companies and the ultrarich.

Proactively reviewing your health coverage, RMDs, and IRAs can lower retirement taxes in 2025 and 2026. Here’s how.

Tax season is approaching. Tax breaks that were extended as part of President Trump's "One Big Beautiful Bill" will mainly ...

Many of the most impactful tax provisions in the "One Big Beautiful Bill" (OBBB), which President Trump signed into law on ...

High-income residents of Democratic-leaning states are poised to get unusually large tax refunds early next year, thanks to the relaxed cap on state and local tax deductions. There are moves people ...

Under the Tax Cuts and Jobs Act (TCJA), businesses, including manufacturers, have been required since 2022 to amortize domestic Section 174 research and experimental (R&E) costs over five years, ...

As it does each year, the IRS has announced inflation adjustments to several tax credit and deduction amounts for 2026. This includes new 2026 income tax bracket thresholds, higher standard deduction ...

There are a few constants in the small-business world every fall: pumpkin spice everything, a sudden panic about Q4 goals, and that wonderful realization that Section 179 is still here, waiting to ...

The AICPA asked the IRS and Treasury to provide guidance on the reporting and substantiation requirements for deductions of qualified tips and overtime pay allowed under the sweeping new tax law, ...