Tags » Tax Filing

5 reasons to file your tax returns on time

Statutory obligation
Section 139(1) of the Income tax act, 1961 mandates every person to file Income tax return if his/her total income is above the basic exemption limit applicable for that financial year. 655 more words


New IRS YouTube Video Provides Tips on Health Care, Tax Returns

The Internal Revenue Service announced the availability of several new YouTube videos to help taxpayers get important information about the Affordable Care Act and tax return filing. 434 more words

Internal Revenue Service (IRS)

Income tax 101

What is Income tax?
“Income tax is a levy by the government on the annual financial income of individuals and entities falling within the jurisdiction” 567 more words


Congress Pressed for Prompt Decision on Tax Extenders

By Billy House

The IRS is warning Congress that decisions about renewing tax provisions that expired at the end of 2013 must be made by late November or next year’s tax-filing season could be seriously disrupted. 389 more words

Smart Personal Tax Planning –What to do before Year-End

Taxes take a big bite out of the income we earn. We may pay: federal (IRS) income tax, state income tax, payroll tax (social security/medicare), sales tax, and property tax. 760 more words

Financial Planning