As we get closer to the April 15 deadline, taxpayers should be wary of changes in the preparation and filing of annual income tax returns (ITR). On Jan. 24, 2014, the BIR issued Revenue Regulations ...

It’s been more than a year since the effectivity of the Tax Reform for Acceleration and Inclusion (TRAIN) Act, but the effects of its implementation are far from over. Just this year, the Bureau of ...

Plenty of provisions in the Tax Code have been changed due to the ongoing tax reform process. Will all these changes need new forms? Most, but not all. For instance, changes in value-added tax, while ...

With the end of the year approaching, most people start preparing for the holidays. For accountants and tax practitioners, this is also the time to plan for year-end statutory obligations, such as the ...

The current Income Tax Return (ITR) form as devised by the Bureau of Internal Revenue (BIR) is all of 12 complicated pages long. It seems to be made with big time manufacturers and people with ...

Which form should I use if I’m self-employed, availing of itemized deductions under the graduated rates? Is it BIR Form No. 1701 or 1701A? You will have to use BIR Form No. 1701. Since you’re availing ...