Implications for Recipients: The responsibility of reversing the ITC lies with the recipient. Upon acceptance of a credit note, the supplier’s tax liability decreases, and the recipient’s GSTR 2B is ...

The EITC is “one of the federal government’s largest refundable tax credits for low- to moderate-income families,’ the ...

The 2025 tax season has begun, with the IRS accepting returns. Refunds may be delayed for those claiming certain credits. The ...

The IRS announced the official start date for tax filing season is Monday, Jan. 27, 2025, for those who like to get an early ...

Some dread doing taxes and wait until the last minute. But millions of others file early to get their tax refunds. What to ...

A new Budget amendment necessitates suppliers to ensure buyers reverse input tax credits (ITC) before claiming adjustments ...

The IRS offers a significant tax credit for low to moderate-income workers, potentially providing up to $8,000. This credit, known as the Earned Income Tax Credit (EITC), can substantially reduce your ...

Workers who are paid low wages — and in many cases are trying to raise children on overstretched paychecks — can qualify for a financial boost by claiming the earned income tax credit on their ...

It is important to note that if you claimed either the EITC or additional child tax credit, the IRS cannot issue your refund before mid-February. This means the IRS will hold the entire refund and ...

Tax rebates provide a quick reimbursement from the IRS, based on money you spend on qualifying purchases. There aren't ...

The IRS expects more than 140 million returns for Tax Year 2024, with changes for third-party payment platforms and important ...

As of Jan. 1, 2024, you have two ways to get the EV tax credit on a new-vehicle purchase. Note that if you ordered a vehicle in 2023 but take delivery in 2024 or ‘25, the new rules apply.