Specialty Group: TAG Tax

The IRS has issued Notice 2022-15, setting down certain conditions under which a taxpayer will be relieved of underpayment penalties under IRC Section 6656 for failing to make required deposits of the Superfund Tax, whic ...

Issue highlights another reason to file and make remittance payments electronically The Internal Revenue Service admitted it destroyed roughly 30 million unprocessed informational returns from the 2020 tax year. An aud ...

Prior to Finance Act, 2021, Section 148 of the Indian Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) dealt with issue of notice where income has escaped assessment within the timelines defined under Sect ...

Indian Central Board of Direct Taxes (‘CBDT’), vide notification 49/2022, notified new forms for applying for advance ruling. The form issued are Form No. 34C, 34D, 34DA, 34E, 34EA. The forms can be signed digitally. ...