IRS processed 15.8% fewer income tax returns in the first week of the 2025 tax season than it did a year ago. Why? What does ...

Prior to the amendments in July 2024, as per section 111A of the Income Tax Act, 1961 (the Act), STCG on listed securities were taxed at 15 per cent. However, after amendment made by Finance (No.2 ...

The fake IRS emails and texts announcing tax refunds and credits are already on the way. It’s tax filing season, so beware of ...

Income Tax filing: In Budget 2025, Finance Minister Nirmala Sitharaman suggested extending the timeframe for submitting revised income tax returns (ITRs) from two to four years. This adjustment ...

Income tax return: The Union Budget 2025 has provided much-needed relief to middle-class taxpayers. In her announcement on Saturday, Finance Minister Nirmala Sitharaman stated that individuals ...

Elon Musk posted that the IRS Direct File group had been "deleted," prompting confusion about the free tax prep service's future.

It might take longer, the agency warns, if a taxpayer's return needs corrections or extra review. The timing of a taxpayer's refund might also change if they claim the Earned Income Tax or Child ...

Elizabeth Guevara is a journalist working to explain the world of business and economics and how it impacts your finances. She joined Investopedia in 2024 as a breaking news writer covering ...

Personal finance columnist Michelle Singletary kicks off the 2025 tax season by answering your questions on Monday, Feb. 3, at 2 p.m. Eastern time. This event is now concluded.

You also might qualify for a refund even if you don’t owe taxes, though you do need to file a return. The federal Earned Income Tax Credit and the Child Tax Credit are among the benefits that ...

The EITC is designed for people whose earned income was under $66,819 for tax year 2024 (tax returns generally filed in early 2025). The amount you get will depend on your adjusted gross income ...