Sometimes a limited liability company, or LLC, has a year with no business activity. For example, a newly formed LLC might not have started doing business yet, or an older LLC might have become ...

Businesses that need extra time to file their tax returns can request an automatic extension using IRS Form 7004, Application for Automatic Extension of Time to File Certain Business Income Tax, ...

Come Monday, the IRS will start accepting and processing 2023 federal income tax returns. Filing your taxes is a task you may not like, but it's one you can't ignore - at least not without a ...

Federal taxes and the IRS are enough to worry about -- but most Americans must also remember to pay state taxes. Despite that, there is a bit of relief. A dozen states cut their income tax rates for ...

In this week's Ask the Editor Q&A, Joy Taylor answers tax questions on the 20% deduction for qualified business income or QBI ...

The IRS has decided not to continue its Direct File program, leaving many taxpayers, especially Latinos, seeking ...

Revision of income tax (I-T) can be done at any time three months before the end of the assessment year or before the ...

Janet Berry-Johnson, CPA, is a freelance writer with a background in accounting and income tax planning and preparation for individuals and small businesses. Her work has appeared in Business Insider ...