IRS Clarifies Overtime Tax Deduction Under One Big Beautiful Bill Act
IRS clarifies 2026 overtime deduction rules: capped at $12,500 for individuals, requires Code TT on W-2s, and excludes…
IRS Processes 98% of Returns Despite Staffing and Tech Strains Ahead of 2026
IRS maintains 98% processing rate in 2026 despite staffing shortages, though paper returns see significant delays and new…
Income Tax Dept Probes 394 Firms for Foreign Remittance Irregularities in Form 15CB Cases
India's Income Tax Department is verifying 394 entities and 36 accountants for suspicious foreign remittances and potential tax…
What Pending I-485 Applicants Must Check Before Submitting Form I-131 for Advance Parole
New BIA ruling warns that Advance Parole travel now triggers inadmissibility bars for those with unlawful presence history;…
Federal Scholarship Tax Credit Could Aid KY Students, Adams Says
Kentucky joins the Federal Scholarship Tax Credit program, offering 100% tax credits for education donations to assist K-12…
Kim Ward Urges Scholarship Tax Credit Approval by January 1, 2027
Pennsylvania lawmakers have introduced legislation to join the federal Scholarship Tax Credit program, but the state has not…
Project Insight 2.0 Launch Set for Jan 2028 to Speed Up Income Tax Refunds
India launches AI-driven Project Insight 2.0 on Jan 27, 2028, to automate tax verification, curb refund delays, and…
Authorised to Paid-Up Capital: Simple Examples Unlock Share Structure
Learn the five stages of share capital under India's Companies Act and why paid-up capital differs from market…
India’s 2026 Foreign Assets Disclosure Scheme Gives Nris a Six-Month Window
India opens a foreign asset disclosure window from Aug 16 to Dec 31, 2026, offering immunity from penalties…
Larry C. Conner Admits Role in $43M Abusive Trust Tax Shelter Scheme
Texas promoter Larry Conner pleaded guilty to a $43 million tax shelter scheme involving abusive trusts. Sentencing is…
FTC Settles with Tax Debt Relief Scammers; American Tax Service Las Vegas Warned
FTC and Nevada settle with American Tax Service for $77.7M after the company used deceptive government-style mailers to…
Treasury Department, IRS Issue Guidance on Electronic Rollovers
IRS Notice 2026-49 introduces standardized forms and electronic procedures to simplify 401(k) to IRA rollovers and reduce lost…
New IRS Section 987 Rules: CFC Exemption Proposed, Comments Due November 12, 2026
The IRS proposed Section 987 regulations on August 13, 2026, offering a CFC exemption for foreign-currency gains on…
India’s 2026 Tax Bill Lures Data Centres, Electronics, Rough-Diamond Trade
India passes 2026 tax bill offering exemptions for data centers, electronics, and diamond trading to attract foreign investment…