Explore the legal and technical hurdles in filing Updated Returns under Section 139(8A), including Excel utility dependencies and procedural ...

Income Tax Refund Update: Like taxpayers, the centralised processing centre (CPC) of the Income Tax Department is bound by a deadline to process income tax return (ITR). If you have filed an ITR for ...

Income Tax Refund Update: The last date to file income tax return is 31 December, which is just seven days later. Meanwhile, the income tax department has been sending bulk SMS and emails to some ...

According to the release, advanced risk analytics under its risk management framework have flagged certain Income Tax Returns (ITRs) for Assessment Year 2025-26.These include cases where deductions or ...

Missing the income-tax return (ITR) filing deadline can have consequences beyond late fees. Today's Ask Wallet Wise query explains how if you fail to opt for the old tax regime on time, you may be ...

A higher state and local tax deduction What had been a $10,000 cap on the amount of state and local taxes that itemizers may deduct on their federal income tax return is now $40,000 ($20,000 if ...

This year, many major retailers are cracking down on returns. Macy’s and T.J. Maxx, among others, are now incorporating return fees into their policies, an unpleasant change for shoppers who want to ...

Cash gifts and income are subject to IRS reporting rules. Gifts of up to $19,000 in cash are exempt from reporting in 2025. Those who have household employees must report cash payments that exceed ...

Input the total of your itemized deductions, such as mortgage interest, charitable contributions, medical and dental expenses, and state taxes. If your total itemized deductions are less than the ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Marguerita is a Certified Financial Planner (CFP), Chartered Retirement Planning Counselor ...

Jeanette Beebe is an experienced journalist, fact-checker, and audio producer covering personal finance, retirement, science, business, medicine, technology, and the arts. Her reporting has appeared ...