Webber Wentzel’s Post

The $688 billion gross tax gap is the difference between the estimated ‘true’ tax liability for a given period and the amount of tax that is paid on time. The gross tax gap covers three key areas – non-filing of taxes, underreporting of taxes, and underpayment of taxes. https://bit.ly/3M2tsDk #TaxFiling #TaxConsulting #taxservices

Changes in ITR form V and Acknowlegement for A.Y 2024 25 as per the amemdments in the provisions of the Income tax Act, 1961 and In the Income tax Rules, 1962 in consequence of the Finance Act, 2023 #CBDT #IncomeTax #tax #taxpayers #UPDATE

Unlock the exemptions you are eligible for under the New Tax Regime.📈 Head on to this link to book a free tax assessment call today! - https://bit.ly/42kN7FJ #taxes #incometax #finance #taxsavings

Stay informed, taxpayers! As published by the BIR on April 12, 2024, this version of Tax Notes addresses the significant changes to the percentage tax (PT) and value-added tax (VAT) regulations covered by RRs Nos. 3-2024 and 7-2024. Click the link to view the full article: https://lnkd.in/gnKZRg7a #PAGrantThornton #GrowWithUs #GreatPlaceToGrow

Death and taxes, they say … I’ve recently mediated a number of cases where the nature of the settlement carried tax consequences for one or both sides. Here’s a good article setting out the basics of tax considerations in the settlement context - https://lnkd.in/guVuuGGm

2024 Tax Revaluation Change of Value notices have been sent out. While this is not a tax bill, this notice contains information about the tax-assessed market value of your property. This process -- mandated by state law -- takes place every six years. Read more about the Change of Value notices here: https://lnkd.in/dJgeNnE9 Read more about the 2024 Tax Revaluation process here: https://lnkd.in/diGXEvWD

#GTinPress | In a recent article in The Economic Times, Akhil Chandna, Partner, Global Mobility Services, #GTBharat, sheds light on a tax-saving opportunity for individuals exceeding the basic exemption limit. He highlights how Section 16(iii) of the Income Tax Act lets you deduct the actual professional tax paid from your gross income before calculating the income tax liability. Read the full article here: https://brnw.ch/21wG5eX #IncomeTax #ITAct #Tax #Article #IncomeTaxAct

Common Tax Deductions For Authors The deadline to file taxes is fast approaching. Don't stress out—get your taxes done at Xpert Tax Service. Call us at (706) 507-1768 (Columbus) or (404) 549-3151 (Atlanta). You can also submit virtually at xperttaxservices.com #AuthorLife #TaxDeductions #TaxServices #TaxSeason

Understanding the nuances of tax withholding can be a complex affair for individuals. However, from time to time, your tax withholding may need to be adjusted to remain compliant and financially secure. In this article, we’ll explore tax withholding basics and why you should or shouldn’t update your withholdings. LINK: https://lnkd.in/gRQqs5VP

The deadline for submitting paper self-assessment tax returns for the 2023-24 tax year is 31 October 2024. If the return is submitted late, a £100 penalty will be imposed, regardless of whether there is a tax liability or if any owed tax is fully paid by 31 January 2025. #Tax #HMRC #SelfAssessment