The newly issued Revenue Ruling 2025-15 clarifies income tax withholding and reporting rules for uncashed retirement plan checks. Generally, adjustments or refunds of income tax withheld on a ...

Do this to avoid income tax dept's notice Mismatch between Form 16 and Form 26AS can result in scrutiny—here's the way to correct it before filing your ITR.

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has charged the Accountant-General of the Federation, Mr. Shamseldeen Ogunjimi, to ensure prompt deduction ...

If you are a salaried employee filing your Income Tax Return (ITR) for the first time, you have likely come across Form 16. This important document plays a significant role in helping employees file ...

Filing ITR 2 for AY 2025–26? Wait for the updated form as schema is pending. Pay pending tax on capital gains to avoid interest under Sections 234B/C. For home loans, claim Rs 30,000 interest ...

ITR filing FY 2024-25: Why Form 16 is your income tax superpower—if you use it right Income tax: Form 16 helps salaried individuals file accurate ITRs by detailing income, TDS, exemptions, and ...

ITR: How to spot and fix mismatch in Form 16 and Form 26AS before filing your tax return Form 16 is a certificate issued by employers that furnishes details about the TDS (Tax Deducted At Source).

The Federal Inland Revenue Service (FIRS) has engaged stakeholder to focus on the practical implementation of the 2024 Withholding Tax (WHT) Regulations. The engagement attracted a cross-section ...

Salaried employees will soon receive their Form 16 for Assessment Year 2025–26, featuring a more detailed breakdown of salary components and newly integrated tax disclosures.

In 2024, Treasury and IRS announced final regulations requiring brokers to report digital asset sale and exchange transactions on Form 1099-DA, furnish payee statements, and backup withhold on certain ...

Brumfield submitted a falsified withholding form claiming gambling winnings of $1,225,000 from casinos in Baton Rouge and Florida, LDR said. Investigators determined the casinos had no records of ...