Businesses structured as S corporations can deduct payroll tax expenses on line 12 of Form 1120S. Only the employer portion of payroll taxes, not the employee portion, are deductible for the business.

There is no special federal day care tax form. H&R Block says most day care providers work as independent contractors, so you file taxes the same way any self-employed business owner does.

The temporary flat rate method does not apply to the 2023 and later tax years. As an employee, you may be able to claim certain home office expenses (work-space-in-the-home expenses, office supplies, ...

Value Added Tax (VAT) is a consumption tax that is applied to nearly all goods and services that are bought and sold for use or consumption in the EU. The EU has standard rules on VAT, but these rules ...

If the applicant is an individual and does not have a social insurance number or an ITN, the individual must complete form, T1261 Application for a Canada Revenue Agency Individual Tax Number (ITN) ...

The Income Tax Department has now announced the launch of a Digital Form 16 to make it easier for taxpayers to file their returns. The development came days after the agency released ITR Forms 1 ...

Digital Form 16 is an electronic version of the traditional Form 16. It's generated directly from the TRACES portal, which is managed by the Income Tax Department. This means all your salary details, ...

Here's a quick guide on relevant ITR forms for individual tax-payers — Taxpayers can use the ITR-1 (Sahaj) form to report long-term capital gains (LTCG) of up to Rs 1.25 lakh under Section 112A ...

The Income Tax Department has released the income tax ... In this write-up, we will discuss ITR Form 1, also known as ‘Sahaj’ and understand who can file this form and who cannot.

In a notable decision impacting taxpayers with foreign income, the Income Tax Appellate Tribunal (ITAT), Pune Bench, has ruled that a delay in filing the requisite Form 67 should not be the sole basis ...

The Income Tax Department has notified all income tax return (ITR) forms for the assessment year 2025–26. However, salaried individuals may have to wait until mid-June to file their returns. This is ...

Income tax return forms 2025-26: The income tax department has notified the ITR forms for the FY 2024-25 (AY 2025-26). The utilities to file the tax return are yet to be released. However, this year, ...