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PENALTIES FOR UNDERPAYING TAXES
ITR filing 2026: 9 key checks every taxpayer must make for AY 2026–27India's income tax administration has become increasingly data-driven, with information from TDS/TCS reporting, SFT filings and other sourc...- Donald Trump immunity from IRS audit shocks experts, who warn it could undermine trust in tax systemDonald Trump's tax probes have ended. The Internal Revenue Service agreed to drop all pending investigations into the former president's ta...
- The IRS owes millions of Americans a COVID refund — here's how to claim what is rightfully yoursMillions may miss money tied to the IRS COVID Refund Deadline 2026 Claim, set for July 10, 2026. This is not routine tax news. It stems fro...
- Don’t make this tax mistake: Key quarterly deadlines that could save you moneyMissing quarterly tax deadlines can cost you extra money in penalties and interest. People who earn on their own or expect to owe taxes mus...
- IRS tax refund 2026 crisis: Why millions of Americans owe the IRS despite bigger refunds and what to do before April 15Over 62 million refunds are already issued in the IRS tax refund season. The average payout is about $3,521. That is over 11% higher than l...
- Tax deadline 2026: Are you ready for April 15? When to file, how to extend, and what happens if you miss itTax deadlines 2026 are here. April 15 is final. Missing it can cost up to 25% in penalties. Millions must file before Tax Day 2026 or reque...
- What is IRS Tax Day? Why this key date is important for every AmericanTax Day, April 15, marks the crucial deadline for filing federal income tax returns and making payments. Missing this date incurs penalties...
- Millions can still claim IRS refunds as deadline nears, act before it’s too lateMillions may still claim IRS COVID tax refunds but not everyone will qualify. The refund is mainly for people who paid penalties during pan...
- IRS misses the mark: Late W-2 and 1099 filings now trigger IRS penalties up to $680 per form — what January 31 deadline miss means todayIRS January 31 deadline passed: The Internal Revenue Service (IRS) began processing over 270 million information returns this week, but dat...
- Why millions are getting surprise tax bills — The ‘underestimating’ mistake IRS is flaggingMany Americans are facing surprise tax bills in 2025 because they underestimated taxable income. New tax rules, side hustles, and online ea...
- When are Estimated Taxes due? Who must pay, how to file, and all key details explainedEstimated quarterly taxes IRS payment deadlines explained: The 2026 IRS tax season is now active. Freelancers and gig workers must pay quar...
- Advance tax payment deadline today: Here is how much penalty will apply for late paymentAdvance tax payment due date: Today's December 15th advance tax deadline is crucial for those with income beyond salary. Failing to pay or ...
- IRS 2025 update: good news as penalties waived for new remittance tax — here’s what you need to knowIRS 2025 update: remittance transfer providers get a break. A new 1% excise tax is coming, but early penalties for mistakes are waived. Thi...
- From Samsung to BYD: Foreign companies and their tax tussles with IndiaForeign companies in India face significant tax disputes, including Samsung's $601 million penalty for tariff evasion, Volkswagen’s $1.4 bi...
- Volkswagen India unit faces $1.4 billion tax evasion noticeIndia has accused Volkswagen of evading $1.4 bn in taxes by misclassifying car component imports as individual parts. This allowed Volkswag...
- Tax notices leave a bitter taste for several chocolatiers, bakersWhile individual tax dues of the entities under the scanner may not be very large, the tax liability of the industry, excluding penalty and...
- Paying income tax is not enough, you must file the ITR to avoid jail in certain casesITR filing: You must remember to file the ITR by July 31, 2024 and also pay any pending income tax amount (if any). "There are legal provis...
- Advance tax first instalment payment deadline: Who has to pay, penalty for missing last dateAdvance tax payment: Individuals with a net income tax liability exceeding Rs 10,000 in any financial year must make advance tax payments. ...
- Canada govt imposes Rs 82 lakh penalty on Infosys for alleged underpayment of tax"Penalty imposed on alleged underpayment of Employee Health Tax for the year ended December 31, 2020," the filing said, which mentioned a p...
- Merrill gets to save tax with losses booked in UKMerrill Lynch booked $29 billion of losses from US subprime mortgages and collateralised debt obligations through its UK unit, reducing the...
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