News

Tax Guru28d
ITAT upholds Section 263 revision order, treating VRS benefits as taxable
34,67,866/- as per Form No. 16. Whereas in the Return of Income ... 5,00,000/- against VRS u/s 10(10C) of the Income-tax Act, 1961. The copies of LIC Annuity authorization letter along with LIC ...
IRS PLR: Tax Exempt Private Foundation Set-Aside Request Approved (IRC §4942)
The IRS has published a private letter ruling on I.R.C. §4942 regarding a taxpayer’s request for a set-aside for the purpose of building a facility to support local arts and ...
Some Online Scam Victims Can Now Seek Tax Relief on Firmer Ground
The Internal Revenue Service issued a memo last month that said victims of certain impersonation and investment schemes might ...
CNN3d
IRS employees expect to learn their layoff fate around Tax Day, their busiest time of the year
Internal Revenue Service workers are expecting to soon learn their employment fate, coinciding with Tuesday’s tax-filing deadline and their busiest week of the year. Two sources familiar with ...
ABC News26d
IRS close to finalizing data-sharing agreement with ICE, sources say
The IRS would be able to check names against its confidential databases. The IRS is nearing a data-sharing agreement with U.S. Immigration and Customs Enforcement that would allow immigration ...
CNN25d
IRS nearing agreement to use its data to help ICE locate undocumented migrants
The IRS is close to finalizing an agreement with the Department of Homeland Security to help locate migrants suspected of being in the US illegally, a person familiar with the matter said ...
Hosted on MSN16d
Avoid costly RMD penalties: What should retirees know?
As 2025 unfolds, a financial milestone awaits Americans turning 73. The Internal Revenue Service (IRS) requires these individuals to take their first Required Minimum Distribution (RMD) from ...
Investopedia27d
How to Fill Out a W-9 Form: Request for Taxpayer Identification Number and Certification
PeopleImages.com / Getty Images Form W-9, Request for Taxpayer Identification Number (TIN) and Certification, is an Internal Revenue Service (IRS) tax form that businesses use to collect ...
Mint28d
‘Submitted doctor’s letter, waiver denied…’: Lisa Ray lambasts Air India for lacking ‘empathy’ to her ailing father
Canadian actress Lisa Ray slammed Air India for rejecting her 92-year-old “ailing” father's medical waiver after she had to cancel a ticket, despite submitting doctors' letter. She further ...
Investopedia20d
Form 941: Employer's Quarterly Federal Tax Return
IRS Form 941, also known as the Employer's Quarterly Federal Tax Return, is used when businesses report the income taxes, payroll taxes, Social Security, and Medicare taxes withheld from their ...
Forbes23d
The Latest At The IRS: Personnel Changes, More Staff Reductions
WASHINGTON, DC - SEPTEMBER 15: A sign marks the entrance to the U.S. Internal Revenue Service (IRS ... to sign the probationary termination letters that went out, along with former acting ...