Treasury, IRS Lower PTIN User Fee for Tax Pros

TREASURY, IRS ISSUE REGULATIONS TO REDUCE THE AMOUNT OF THE USER FEE FOR TAX PROFESSIONALS WHO APPLY FOR OR RENEW A PTIN https://loom.ly/bGZIIrw

The Income Tax Department has started issuing notices and levying penalties on these non-compliant entities, directing field officers to complete the process by end-November. #IncomeTax #ITDepartment #Tax #Finance #CBDT | Boris Pradhan https://mybs.in/2eqsWHK

The Goods and Services Tax Network (GSTN) has released a comprehensive set of FAQs addressing numerous practical and technical issues faced by taxpayers while filing the Annual Return (Form GSTR-9) and Reconciliation Statement (Form GSTR-9C) for the financial year 2024-25. https://lnkd.in/g9-VrWdf

The Goods and Services Tax Network (GSTN) has released a comprehensive set of FAQs addressing numerous practical and technical issues faced by taxpayers while filing the Annual Return (Form GSTR-9) and Reconciliation Statement (Form GSTR-9C) for the financial year 2024-25. https://lnkd.in/gCCT86Qg

#HMRC has introduced a new service allowing landlords and the self-employed to apply for exemption from Making Tax Digital for income tax self assessment #MTD. Applications must be made by phone or in writing, with HMRC aiming to respond within 28 days. https://lnkd.in/gVtPAcJ5 #Accountant

#HMRC has introduced a new service allowing landlords and the self-employed to apply for exemption from Making Tax Digital for income tax self assessment #MTD. Applications must be made by phone or in writing, with HMRC aiming to respond within 28 days. https://lnkd.in/gVtPAcJ5 #Accountant

Fixed Return Filing Deadlines: A Persistent Problem and Its Solution https://lnkd.in/dkHGBD_4 #return #deadline #solution #news #breaking #problem Every taxpayer is required to file their income tax return (ITR) within the due date prescribed under the Income Tax Act, 1961. However, with the growing complexities in business and audit requirements, meeting these fixed deadlines has become increasingly difficult for both taxpayers and professionals.

Major Transparency Boost! 🚀 Income Tax Portal Now Shows WHEN Officials Review Your Submissions The Income Tax Department has rolled out a crucial feature on the e-filing portal that is a game-changer for taxpayer transparency and accountability in the Faceless Assessment regime. What's New? Taxpayers can now see the exact date and time their response to a tax notice or their other submissions have been viewed by the Assessing Officer (AO) or Commissioner of Income Tax (Appeals) [CIT(A)]. The portal displays a message like: “Response viewed by AO on: [Date]” Why this is a Big Deal for Taxpayers: Eliminates Uncertainty: No more guessing whether your submitted documents have been received or opened by the tax officer. Digital Audit Trail: Creates a clear, timestamped record of officer activity, ensuring greater procedural fairness. Improves Accountability: This feature is expected to reduce delays, prevent allegations of non-consideration of replies, and improve the efficiency of the tax process. Builds Trust: It's a key step in building confidence in the faceless system, reinforcing the department's commitment to transparent and digital governance. This is a welcome and powerful move towards a more accountable and taxpayer-friendly tax administration system. Have you checked this new feature on your portal yet? Share your thoughts! #IncomeTax #Taxation #IndiaTax #FacelessAssessment #CBDT #TaxCompliance #Transparency #Finance

✅ Friday Tax Answers Here are expert answers to those questions: Oct. 15 Extension Deadlines Focus on: confirming all needed forms & schedules are ready, double-checking digital signatures, ensuring client documents are fully in order, and submitting before deadline to avoid late-filing penalties. Remittance Transfer Penalty Relief The recent IRS/Treasury guidance gives relief for failing to deposit excise taxes in the first three quarters of 2026. Businesses should review their operations, assess exposure, and plan to comply under new rules. (See IR-2025-102) Rights During IRS Interaction You have the legal right to representation (an authorized tax pro), access to appeals, and now mediation options through the new pilot program. Know your rights, and use them. (See IR-2025-100, IR-2025-65) Filing/Payment Relief for Affected Taxpayers Eligible individuals and businesses impacted by conflict may delay many deadlines until Sept. 30, 2026. To use this relief, you must meet eligibility conditions and file/pay by the extended dates. (See IR-2025-97) Adapting to IRS Changes & Leadership Tax pros should: update internal workflows to account for PTIN fee reductions, stay current with enforcement priorities under the new Acting Chief Tax Compliance Officer, and communicate changes to clients proactively. Need customized answers for your business or filing situation? 📲 DM us or click the link in bio to connect with a tax expert. #FridayTaxAnswers #ThursdayTaxQuestions #IRS #TaxAdvice #TaxPros #Taxpayers

✅ Friday Tax Answers Here are expert answers to those questions: Oct. 15 Extension Deadlines Focus on: confirming all needed forms & schedules are ready, double-checking digital signatures, ensuring client documents are fully in order, and submitting before deadline to avoid late-filing penalties. Remittance Transfer Penalty Relief The recent IRS/Treasury guidance gives relief for failing to deposit excise taxes in the first three quarters of 2026. Businesses should review their operations, assess exposure, and plan to comply under new rules. (See IR-2025-102) Rights During IRS Interaction You have the legal right to representation (an authorized tax pro), access to appeals, and now mediation options through the new pilot program. Know your rights, and use them. (See IR-2025-100, IR-2025-65) Filing/Payment Relief for Affected Taxpayers Eligible individuals and businesses impacted by conflict may delay many deadlines until Sept. 30, 2026. To use this relief, you must meet eligibility conditions and file/pay by the extended dates. (See IR-2025-97) Adapting to IRS Changes & Leadership Tax pros should: update internal workflows to account for PTIN fee reductions, stay current with enforcement priorities under the new Acting Chief Tax Compliance Officer, and communicate changes to clients proactively. Need customized answers for your business or filing situation? 📲 DM us or click the link in bio to connect with a tax expert. #FridayTaxAnswers #ThursdayTaxQuestions #IRS #TaxAdvice #TaxPros #Taxpayers