According to CA Dr Suresh Surana, the Income-tax Act, 2025 (ITA 2025) aims to simplify compliance, rationalise procedures and align the tax framework with current economic realities. Several key ...

New Income Tax Act: The new Act looks to streamline provisions, reduce complexity, and introduce modern digital processes. However, the committee noted that operational readiness on the ground should ...

The IRS has published filing instructions for the new Schedule 1-A and Form 1040 instructions for taxpayers to claim no tax ...

The Social Security Fairness Act signed at the beginning of 2025 is now unfair, at least when it comes to taxes, according to some representatives in Congress. Those income spikes last year likely ...

Long Island and state tax professionals said several changes enacted through last year's sweeping federal tax bill are likely to bring savings to many taxpayers, including homeowners, seniors and ...

The Social Security Fairness Act provides more than 2.8 million beneficiaries who receive public pensions with higher monthly payments and retroactive lump-sum payments dating back to 2024. The law ...

The average taxpayer is expected to get a bigger refund this tax season under President Donald Trump’s “One Big Beautiful Bill Act,” which allows many people to claim bigger deductions or avoid paying ...

Four of the corporations whose CEOs flanked President Trump at his January 2025 inauguration ceremony have now disclosed that they collectively received $51 billion in federal tax breaks in 2025, much ...

A newly introduced bill would prevent some public sector retirees from being hit with a tax bill after they were made eligible for Social Security benefits last year. The bipartisan bill, known as the ...

CALIFORNIA’S ULTRA-RICH have been louder than usual lately. (Some have their own podcasts, so that is really saying something.) A statewide ballot initiative that would create a billionaire tax has ...

A proposal to raise taxes on the wealthiest Californians has sharply divided Democrats in the biggest blue state in the country — and is poised to set up a broader debate for the party heading into ...

Gov. Gavin Newsom said he was working behind the scenes to block a proposed tax on billionaires’ wealth and was committed to defeating the measure if it reached the ballot. By Laurel Rosenhall ...