Pretax earnings refer to a company's income after all expenses have been deducted from total sales, but before income taxes have been subtracted.

The Madras High Court held that reopening an assessment after four years is invalid where the assessee had already disclosed all material facts during the original scrutiny ...

ITAT Chennai held that where unaccounted purchases are found and the corresponding sales are not doubted, only the profit element embedded in such purchases can be brought to tax, and not the entire ...

An individual tax return is a government form that reports all income for the previous year and any taxes due on it.

Mayor Zohran Mamdani and city officials hold a press conference to provide weather updates at the Spring Street Salt Shed on February 21, 2026 in New York. Erik Pendzich/Shutterstock Mayor Zohran ...

The average tax refund is 22% higher so far this season, Treasury Secretary and acting IRS Commissioner Scott Bessent told CNBC's "Squawk Box" on Friday. The 2026 tax season opened Jan. 26, and the ...

AVON LAKE, Ohio -- Residents with questions about Avon Lake’s proposed income tax increase will have a chance to hear directly from city leaders — and run the numbers for themselves — at a community ...

The Internal Revenue Service is reminding taxpayers that some filers will see their refunds delayed if they claimed one of two specific credits. Taxpayers who claim either the Earned Income Tax Credit ...

ATLANTA — Georgia Senate Republicans are behind a plan to eliminate state income tax in stages, but the state would have to get rid of the tax credits used to entice businesses to locate here.

COLUMBUS, Ohio -- Ohio has forgone over $80 million in revenue, and counting, since the beginning of a program that gives people a tax benefit for private school donations – another layer of public ...

Corrections & Clarifications: This story has been updated to correct when Colorado taxpayers will have to add the portion of overtime pay that will not be subject to federal income taxes back to their ...

Wisconsin seniors will get a bigger break when filing state income taxes this year. Retirees can now subtract $24,000 in retirement income on their state forms, or double that amount for joint filers.