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The Latest Breaking News from Tax Return

Six Biggest Mistakes Made on Retirees’ Tax Returns

Reducing your lifetime tax bill is the goal, so if you or your tax preparer made any of these mistakes, an amended return or better planning might be in your future.

IRS Launches Direct File Program For Free Tax Filing

IRS Launches Direct File Program For Free Tax Filing

Learn about Direct File, the IRS's new free electronic tax return system simplifying tax filing.

What Is Earned Income Tax Credit and Who's Eligible in 2024?

What Is Earned Income Tax Credit and Who's Eligible in 2024?

A comprehensive guide on the little-known Earned Income Tax Credit

From analysis to the latest developments in health,
read the most diverse news in one place.

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Does Your Child Need to File a Tax Return This Year?

Here’s how to tell if your child needs to file a tax return in 2025 and how it can impact your tax liability.

Congress MP Dhiraj Sahu revises income tax returns; settles taxes on ₹150 crore with ₹50 crore remain unexplained

“Congress Rajya Sabha member Dhiraj Sahu, who was in the news following a ₹350 crore cash recovery from his premises, has revised his income tax returns and paid taxes for ₹150 crore,” according to sources.

Get rid of the paper clutter: how to deal with your household documents

From ways to store important documents to the right ways to destroy them

The Guardian - UK

Mortgage Interest Tax Deduction: What You Need to Know

Should you claim the mortgage interest deduction when you file your federal tax return?

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Tax Tips for Filing Your 2023 Tax Return

Tax Tips for Filing Your 2023 Tax Return

From filing early to electronic filing, these tax tips will help speed up the process of filing your 2023 tax return.

How can I possibly fill in my own tax return? I know nothing about money

How can I possibly fill in my own tax return? I know nothing about money

This year like every year, I’ll be paying someone to handle my self-assessment. I know it’s pathetic – but why aren’t we taught about this stuff at school?

The Guardian - UK

Almost 4 million people yet to file UK tax return due on 31 January

Almost 4 million people yet to file UK tax return due on 31 January

HMRC issues ‘act now’ plea as deadline looms for self-assessment tax return with penalties for those who miss it

The Guardian - UK

Self-assessment tax return: the dos and don’ts to ensure you don’t pay too much

Self-assessment tax return: the dos and don’ts to ensure you don’t pay too much

Late to file or unsure if you need to? Here’s what you need to know – and how to ensure you don’t pay too much

The Guardian - UK

Less than a month for nearly 5.7m people to meet self-assessment deadline

Less than a month for nearly 5.7m people to meet self-assessment deadline

Some 127 people saw in the new year by filing their tax return, according to HM Revenue and Customs figures.

The Independent UK

Taxpayers cop fines after using unregistered tax agent

Taxpayers cop fines after using unregistered tax agent

An unregistered tax agent who unlawfully lodged hundreds of tax returns filled with dodgy deductions exposed her clients to ATO fines and unexpected tax bills.

Time to Act on These Year-End Tax Planning Tips

Time to Act on These Year-End Tax Planning Tips

With a short time left before 2024 comes to a close, year-end tax planning is all-important. Here are some areas to focus on.

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Chicago Sun-Times

IRS plans limited rollout of free e-file tax return system with invitations to select taxpayers

The agency estimates that hundreds of thousands of taxpayers will participate in the limited rollout of the program for the 2024 filing season.

Medicare Premiums 2024: IRMAA for Parts B and D

The income related monthly adjustment amount (IRMAA) for 2024 Medicare Part B & Part D Premiums.

The Independent UK

Ex-IRS contractor pleads guilty in leak of tax return information of Trump, wealthy people

A former contractor for the Internal Revenue Service charged with leaking tax information to news outlets about former President Donald Trump and thousands of the country’s wealthiest people pleaded guilty Thursday in an agreement with prosecutors

The Independent UK

IRS contractor charged with leaking tax return information of wealthy people

A former contractor for the Internal Revenue Service has been charged with leaking tax information to news outlets about a government official and thousands of the country’s wealthiest people

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FCC judge rules that Knoxville's only Black-owned radio station can keep its license

Since 2022, WJBE has battled with the FCC over its owner, Joe Armstrong, being able to own a radio station following his conviction in 2016 for making a false statement on his tax return.

The Guardian - UK

My husband died suddenly, then HM Revenue and Customs sent him a £100 fine

I had no idea I was supposed to file a tax return for my late husband, but my attempts to explain have been greeted by a penalty notice

The Independent UK

Democrats accuse tax prep firms of undermining new IRS effort on electronic free file tax returns

Congressional Democrats are accusing big tax preparation firms including Intuit and H&R Block of undermining the federal government’s upcoming electronic free file tax return system

Evening Standard

OPINION - Everything I need for work I learned on the job — my degree was a waste of cash

In my last job, £258 of every paycheque was syphoned off to the Student Loans Company. Now that I’ve gone freelance, I sometimes have palpitations about the chunk of money I’ll have to hand over to cover the debt come tax return time.

The Conversation

Worried you'll lodge a late tax return? At least 80,000 Australians can't afford tax advice

If you’re struggling to complete your tax return, you’re not alone. There are cases of Australians being years, even decades behind in their tax returns. And the poorer you are, the more likely you’ll need but can’t afford some professional help.

Are You Mistakenly Dead to the IRS?

A new report says the IRS placed 'deceased locks' on accounts of more than 90,000 taxpayers who weren’t dead.

The yearly grind

The inherent anxiety and tension remain despite the well-meaning reforms and technological advancements initiated by the Income Tax department.

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