The ESIC Amnesty Scheme 2025 is a one-time, official initiative running from October 1, 2025, to September 30, 2026, designed to settle pending ESIC court cases and disputes. It allows employers and insured individuals to resolve legal matters, such as non-compliance or unpaid dues, by paying actual contributions with waived or reduced damages and interest, aiming to reduce litigation for cases pending as of March 31, 2025.
Highlighting further reforms, Shri Yadav announced the introduction of the AMNESTY Scheme-2025, which will be in effect from 1st October 2025 to 30th September 2026. This one-time dispute resolution initiative has been designed to settle issues related to damages, interest, and coverage under the ESI Act.
You can demonstrate that you have been continuously physically present in the U.S. since November 1986; You can establish that you have resided continuously in the U.S. in an unlawful status since January 1, 1982; You have not been convicted of any felony or of three or more misdemeanors committed in the U.S.
The IRS Fresh Start Program 2025 is a federal tax relief initiative designed to help individuals and small businesses resolve back taxes. It offers structured options like installment agreements, penalty relief, and Offers in Compromise.
How can I apply for Tax Amnesty? By logging into your iTax page and going to Amnesty application tab under Debt and Enforcement and making the application. Clicking on the link shared through your Email/SMS which will re-direct you to your iTax page to make the application.
If you have not paid all the principal taxes accrued up to 31st December, 2022, you will be required to apply for the amnesty and propose a payment plan for any outstanding principal taxes which should be paid not later than 30th June, 2024. How can I apply for Tax Amnesty?
You may be eligible for a California Earned Income Tax Credit (CalEITC) up to $3,756 for tax year 2025 as a working family or individual earning up to $32,900 per year.
The One, Big, Beautiful Bill Act significantly affects federal taxes, credits and deductions. It was signed into law on July 4, 2025, as Public Law 119-21, and takes effect in 2025.
To qualify for IRS "forgiveness" (like an Offer in Compromise or Fresh Start payment plan), you generally need to owe tax debt, be current on tax filings, demonstrate financial hardship preventing full payment, and have a generally compliant tax history, with specific programs like streamlined installment agreements capping debt at $50,000. True forgiveness (an Offer in Compromise) is rare and depends on proving you can't pay or that the IRS's collection is unlikely, while other programs offer payment plans.
It ends illegal immigration, restores law and order, provides legal status (no amnesty) for certain long-term undocumented immigrants, strengthens the American workforce, modernizes our legal immigration system, and helps pay down the national debt.
People who have committed serious crimes or are facing criminal charges are generally not eligible for the amnesty. The program is designed to address immigration violations, not criminal offenses. Such individuals would need to address their legal issues through the UAE's legal system.
President Ronald Reagan signed the Immigration Reform and Control Act (IRCA) in 1986, which granted amnesty, or legalization, to nearly 3 million undocumented immigrants who had lived in the U.S. before January 1, 1982, making them eligible for permanent residency and eventual citizenship. This landmark legislation, often called the "Reagan Amnesty," also introduced penalties for employers hiring undocumented workers.
A new UAE visa amnesty program started in late 2024 and concluded on December 31, 2024, delivering a crucial opportunity for people who had overstayed their visas. As of 2025, there is no active amnesty program.
Residency Requirements: Applicants must have resided in the U.S. for a specified number of years. Educational and Employment Requirements: Applicants must be pursuing or have completed higher education, or have served in the military.
This initiative helps taxpayers apply without waiting for official withdrawal confirmation. Experts say this is a good feature by GSTN. The Goods and Services Tax Network (GSTN) has issued important advisory about those taxpayers who wish to apply for the GST Amnesty Scheme on or before the deadline of June 30, 2025.
The IRS $600 rule refers to a change in reporting requirements for third-party payment apps (like Venmo, PayPal) for taxable income from goods and services, where platforms must send a Form 1099-K if you receive over $600 in a year, intended to capture gig economy/side hustle income, though delays and phased implementation have adjusted the timeline, with current rules for 2024 using a higher threshold ($5,000) before fully phasing to $600 for future years, but remember all taxable income, regardless of form, must always be reported.
Bankruptcy is your best option for getting rid of debt without paying. Before committing to filing bankruptcy, understand your options and the consequences that come with having a bankruptcy on your credit report.
The IRS 7-year rule primarily applies to keeping records for claiming a deduction for bad debts or losses from worthless securities, allowing a longer period to file for a credit or refund, but it's not a universal audit limit; it's often a recommended safe buffer for general record-keeping, with the standard IRS audit period usually being 3 years, extending to 6 years for substantial income omission (over 25%) or foreign income issues, and indefinitely for fraud.
If you're 65 or older now, you can claim an additional deduction of up to $6,000 on your 2025 federal income tax return. Eligible married couples who are both 65 and older can claim up to $12,000 for an additional deduction.
If you don't file your tax return by the October 15 extension deadline, the IRS charges a failure-to-file penalty of 5% per month (up to 25%) on unpaid taxes, plus a failure-to-pay penalty (0.5% per month), and interest on the total amount due, potentially leading to significant costs, though you can request penalty abatement for reasonable cause, and if you're owed a refund, you generally won't face penalties but risk losing your refund if you wait too long (usually over 3 years).
You can typically inherit a large amount without federal taxes because the tax applies to the deceased's estate, not the recipient, and the exemption is very high: $13.99 million in 2025 and $15 million in 2026 per person, meaning most inheritances fall below this threshold. The key is that the estate's total value must exceed these limits for any tax to be owed by the estate. Inheritances themselves (cash, property) are generally not income, but earnings on them (like interest/dividends) or pre-tax retirement funds (like IRAs) are taxable.
The One Big Beautiful Bill Act (OBBBA) or the Big Beautiful Bill (P.L. 119-21), is a U.S. federal statute passed by the 119th United States Congress containing tax and spending policies that form the core of President Donald Trump's second-term agenda. The bill was signed into law by Trump on July 4, 2025.
The $4,000 federal tax credit refers to the Used Clean Vehicle Credit, available for purchasing a qualified pre-owned electric or fuel cell vehicle, equal to 30% of the sale price (up to $4,000) but subject to income limits and vehicle requirements (like model year and purchase price). This credit, established by the Inflation Reduction Act, helps lower your tax bill, not just your taxable income, and requires dealer participation for reporting the sale to the IRS.
April 10, 2025, the House adopted the Senate's amended version of the budget resolution, which allows $5.3 trillion in deficit-financed tax cuts (the combination of $3.8 trillion of tax cuts assumed to be “costless” under a current policy baseline plus $1.5 trillion in additional deficits permitted), deficit increases ...