If you do this on your tax return, that IRS will charge you a $5,000 penalty
The 2025 tax season is underway. As US filters prepare to submit their returns, they should be aware that this mistake could ...
More time to revise returns, but there's a price to pay
The tenure for filing updated tax returns has been extended from two to four years, allowing taxpayers more time to correct ...
Budget 2025 provides relief to taxpayers in filing updated returns but with a penalty of up to 70%
The deadline for filing updated tax returns has been extended from two to four years. This allows taxpayers more time to correct discrepancies in their income tax returns. However, delayed filings ...