In a surprising move, the U.S. Senate just passed the “No Tax on Tips Act,” by a vote of 100-0; no senator on either side of ...

Do you live in a state that has a high sales tax? A state that imposes no sales tax at all? Consumption tax, the category that includes sales tax, is often a footnote at the end of a receipt ...

The purpose of the constructive receipt rule is to ensure that taxpayers pay income tax and can't delay or avoid those taxes by not taking possession of income. An individual is considered to be ...

This rule allows homeowners to rent out their primary residence for up to 14 days per year without having to report the rental income on their federal tax return. Originally designed to ...

However, in an attempt to save money, tax-payers may often resort to submitting fake rent receipts. Experts warn that the Income Tax (IT) Department is cracking down on fraudulent claims ...