This story was originally published by ProPublica, a nonprofit newsroom that investigates abuses of power. Sign up for ProPublica’s Big Story newsletter to receive stories like this one in your inbox as soon as they are published. On Dec. 30, the IRS announced it was revamping a long-standing agreement with the online tax preparation industry in which companies offer free filing […]

The 2017 Tax Cuts and Jobs Act eliminated a number of key tax deductions that once helped Americans save thousands. But thankfully, there are plenty of deductions still in play, and if you’re currently in the process of putting together your 2019 return, here are a few expenses you can still write off. 1. Mortgage interest The

The finance minister claimed that the rate of consumption of sugary drinks in the Indonesian society is getting higher amid growth of the public revenue. Imposing excise tax on them is expected to reduce the number of diabetes cases in the country, one of the main causes of death among Indonesians. “Many countries have imposed

The time is now for both public and private companies to take advantage of the opportunities provided by the extensive tax reform in 2017 from the Tax Cuts and Jobs Act (TCJA), according to Grant Thornton. The Act revolutionized tax planning for public businesses, and the provisions for private businesses required significant subsequent interpretations from

The Federal Inland Revenue Service (FIRS) on Tuesday solicited the support of Lagos Inland Revenue Service (LIRS) to meet the N8.5trillion target given to it by President Muhammadu Buhari to fund the 2020 budget. It also said some multinational companies refused to declare their profits, thereby defaulting in tax payment since 2011. It called for

The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, has called on all tax collecting agents in the public and private sectors to make correct collection and prompt remittance of all collectable taxes high priority so that Nigeria can derive maximal benefit from the 2019 Finance Act. Mr. Nami gave made this call

Babatunde Fowler, executive chairman of the Federal Inland Revenue Service (FIRS), has been elected president of the African Tax Administration Forum (ATAF). At the election, which held in Pretoria, South Africa, on Wednesday, Fowler polled 13 votes ahead of the four secured by his Togolese opponent. In his acceptance speech on behalf of Nigeria, Fowler

The Finance Act and oversight functions of tax authorities came under heavy hammer Thursday in Lagos  as the pioneer president of Chartered Institute of Taxation  of Nigeria (CITN), Chief Ajibola Olorunleke, adjudged the Excess Dividend  Tax provision as illegal, just as Dame Gladys Simplice, the current helmsman,  urged tax regulatory activities to be centralised. According to

In a bid to ensure total tax compliance in the country, the Federal Inland Revenue Service (FIRS) has disclosed plans to put new policies in place. The disclosure was made by the FIRS Executive Chairman, Muhammad Nami during the KPMG Tax Breakfast Seminar. According to KPMG Tax Consultant, Victor Adegite in a series of tweets, Nami said

The federal government has finally put to bed the controversy over who will collect stamp duty has finally been rested. Henceforth, the Federal Inland Revenue Service (FIRS) will be the sole collecting agency of stamp duty in the country. Before now, the Nigeria Postal Service (NIPOST) had protested to the Minister of Finance demanding that