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Some taxpayers may be surprised when the expanded Child Tax Credit shrinks their refund, tax experts say.

Abul Hyat Nurujjaman is a multi-award-winning accountant and managing director of Taj Accountants, a trusted partner for businesses and individuals seeking expert accounting and advisory guidance.

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Often investing in properties yield much better returns compared to the other investment forms. Still, advice from SMSF professionals is necessary for safety and monetary value.Self-managed superannuation funds or SMSF provides the owners with the control on the process to invest the superannuation ...

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The IRS usually can audit for three years after you file, but there are many exceptions that give the IRS six years or longer. The IRS has no time limit if you never file a return or file fraudulently. The IRS can also audit forever if you omit certain tax forms.

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If you find back-office finance and accounting functions are consuming too much of your time and causing stress, consider seeking out the help of an accountant.

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Effective from July 1, 2022, TDS will be applicable at the time of transfer of virtual digital assets, crypto and NFTs. The TDS will be applicable at the rate of 1%. However, the Central Board of Direct Taxes (CBDT) has announced that TDS will be applicable if the amount paid exceeds the specified limits.

Some estate-planning perks could disappear

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