Many NRIs are unaware of the benefits of the Income Tax Act's sections 115C and 115I, which provide concessional tax ...

On May 22, 2025, the House of Representatives passed a tax bill (House Tax Bill) that proposes to make permanent – and increase – the section ...

The 2025 federal tax reform introduces significant changes to the State and Local Tax (SALT) deductions, particularly ...

Foreign tort funders don’t pay U.S. tax on their jackpot payouts.

President Donald Trump’s tariffs have been highly disruptive, but at least America’s economy does not depend heavily on trade ...

Freelancers can claim deductions for expenses directly related to their work. These include internet bills, rent for a ...

However, the exemption of personal income tax on foreign-sourced income will apply for only two years: the year in which the ...

New final regulations pose significant implications for possible income inclusions by U.S. corporations with foreign ...

The House's nearly $4 trillion tax package is set for a makeover in the Senate starting this week when lawmakers return to ...

This option is best if you posted a loss because you can take the full deduction in the current tax year. Foreign exchange losses can be deducted against all types of income. Report gains and ...

To avoid double taxation, the Internal Revenue Service provides a foreign tax deduction and tax credit. Only foreign income tax qualifies for the tax credit, but you can claim foreign sales tax as ...

By Carolina Mandl NEW YORK (Reuters) -Wall Street analysts are cautioning that a tax targeting foreign investors in the U.S.