Can i make tax payments to the irs

US President Joe Biden (File image: Reuters) As Americans deal with the highest inflation in decades, President Joe Biden has declared that combating rising costs is a priority for his administration. Lately, he has cited one policy in particular as an inflation-fighting tool: shrinking the nation’s budget deficit. “Bringing down the deficit is one way to ease inflationary pressures in an economy,” Biden said this month. “We reduce federal borrowing and we help combat inflation.” The federal budget deficit — the gap between what the government spends and the tax revenue it takes in — remains large. But Biden has pointed out that it shrank by $350 billion during his first year in office and is expected to fall more than $1 trillion by October, the end of this federal budget year. Rather than stemming from any recent budget measures by his administration or Congress, the deficit reduction largely reflects the rise in tax receipts from strong economic growth and the winding … [Read more...] about Biden’s curious talking point: Lower deficits offer inflation relief

Representative image Oil prices continue to surge over fears of supply disruption as Russia faced collective sanctions from the US and allies following its invasions of Ukraine. On March 2, Brent crude futures rose by as much as $8 and touched $113.02 a barrel, the highest since June 2014, before easing to $111.75, news agency Reuters reported. Such elevated prices have wide ramifications for India, given that about 85 percent of the crude processed by domestic refiners is imported. High prices can put upward pressure on inflation, increase the cost of inputs for various industries, make transportation expensive, raise the import bill and lead to deterioration of the current account. The Economic Survey of 2021-22 had flagged the risk of imported inflation, arising from elevated global energy prices but the Budget for 2022-23 and the Reserve Bank of India’s monetary policy committee have taken a relatively benign view on crude oil prices—they have estimated that it would … [Read more...] about Crude hovers around $110, India has a lot to worry about

Petrol and diesel prices are expected to rise as the polls for the Assembly elections in five states including Uttar Pradesh come to an end. (Representative Image) Excise duty has to be reduced by Rs 10-12 on diesel and petrol, former finance secretary said, saying there was no other choice before the government to protect the consumer from rising global crude as the end to the fuel price looms. “(Tax) revenue will fall. No way retail prices can reduce without a hit on revenue. Excise duty has to be reduced by Rs 10 to Rs 12. There is no choice. Profitability of OMCs (oil marketing companies) will also get hit," Subhash Chandra Garg said in an interview to CNBC-TV18. Brent crude oil prices tested $139 a barrel on March 7 . Rupee hit an all-time low of nearly 77 a dollar after crude oil surged afresh on reports that the US and its European allies were weighing a ban on Russian oil. This is likely to have a major impact on domestic fuel prices. Petrol and … [Read more...] about Excise duty on fuel has to be reduced by Rs 10-12 as there is no other option: Former finance secretary

(Representative Image) In news that comes as a relief to the common man, the Centre has decided to cut excise duty on petrol by Rs 8 per litre and on Diesel by Rs 6 per litre. This will effectively reduce the price of petrol by Rs 9.5 per litre and of diesel by Rs 7 per litre. Finance Minister Nirmala Sitharaman , while making the announcement on her Twitter handle on May 21, requested state governments to follow the lead, especially those who didn't announce a reduction last time (Novemeber 2021). "I wish to exhort all state governments, especially the states where reduction wasn’t done during the last round (November 2021), to also implement a similar cut and give relief to the common man", read her tweet. Also Read: Excise duty on fuel has to be reduced by Rs 10-12 as there is no other option: Former finance secretary 7/12 We are reducing the Central excise duty on Petrol by ₹ 8 per litre and on Diesel by ₹ 6 per litre. It will have revenue implication of … [Read more...] about Centre cuts excise duty on petrol by Rs 8 per litre, on diesel by Rs 6 per litre

The success of a well-run business is not determined by its financial performance levels alone, and that is why leaders need to take a holistic approach and consider how each area of the establishment and decisions made about specific contributions to the company can build it up or weigh it down. advertisement advertisement As you work towards achieving your financial goals, it’s also important to find the right balance and prioritize how to maintain a steady cash flow and make wise choices about how and where to invest your time and money to elevate the organization. Below are 16 members of Fast Company Executive Board to share some of the best practices they’ve received about how to manage their company finances. 1.  DEVELOP A LONG-TERM PERSPECTIVE. advertisement As Warren Buffet says: “Think long-term.” As a manager, you have to live months or years ahead of where your company is now. Ask where you want to be in a year and invest … [Read more...] about Leading executives share 16 tips that nurture corporate finance

Finance Minister NIrmala Sitharaman | Illustration: Moneycontrol India has already started buying oil from Russia, since it has come at a discount at a time when the country needs it, Finance Minister Nirmala Sitharaman has said. "We have received quite a number of barrels. I would think about 3-4 days of (national) supply. I would put my country's national interest and energy security first," Sitharaman said at the 17th edition of the CNBC-TV18 India Business Leaders Awards. If fuel is available at a discount, why shouldn't India buy it, the finance minister stressed. Sitharaman's comments come on a day when Russian Foreign Minister Sergey Lavrov is in New Delhi to discuss a range of issues, among which India's oil purchases from Russia, and a new proposed Rupee-Rouble trading mechanism, figure majorly. However, Sitharaman said the global economic climate has been impacted by the Ukraine crisis and that she was entering the new financial year with 'cautious optimism'. … [Read more...] about India buying Russian oil: I will put my country’s national interest, energy security first: FM Sitharaman

United States President Joe Biden U.S. President Joe Biden and his new South Korean counterpart will search for ways on Saturday to break a diplomatic stalemate with North Korea, as they worry Kim Jong Un could lash out with new nuclear tests. Biden and Yoon Suk-yeol will meet in Seoul for their first diplomatic engagement since the South Korean president’s inauguration 11 days ago. The friendly encounter between allies is clouded by intelligence showing North Korean leader Kim is prepared to launch nuclear or missile tests. A senior Biden administration official told reporters on Saturday that the two leaders will discuss nuclear cooperation and that Washington remains ready for diplomacy with North Korea. "It is very much our desire that we find ways to have a diplomatic approach,” the official said. ”We have made very clear we’re prepared to talk to them, and with no preconditions, and we’re also prepared to take steps to address their domestic challenges, including … [Read more...] about North Korea nuclear threat tops agenda for Biden-Yoon meeting in South Korea

Crude oil price has rocketed upward since Russia launched its invasion of Ukraine on Feb. 24 (Image: Reuters) India is in talks with Russia over a deal to buy oil at discounted rates, the chairman of India's state-run Hindustan Petroleum Corp. said on Thursday, at a time when much of the West is shunning Russian crude over the conflict in Ukraine. India, the world's third biggest oil importer and consumer, is struggling like much of the rest of the world with inflation at multi-year highs, and is keen to cut its import bill and protect consumers from soaring fuel prices. The country has already bought more than twice as much crude from Russia since Moscow's invasion of Ukraine on Feb. 24 as it did in the whole of 2021, according to Reuters calculations, with sources saying Indian buyers were getting discounted prices. Also Read: India buying Russian oil: I will put my country's national interest, energy security first: FM Sitharaman But the comments from HPCL … [Read more...] about Indian government in talks with Russian over cut-price oil deal: HPCL

The rupee hit an all-time low of nearly 77 a dollar on Monday after crude oil made fresh surges on news reports that the US and its European allies were weighing a ban on Russian oil.  This was the fourth consecutive session when the currency weakened. At 12.11pm, the home currency was trading at 76.96 a dollar, down 1.03 percent from its previous close. It opened at 76.96 a dollar and touched a record low of 76.97 during the day. Analysts says that the higher crude is likely to widen India's current account deficit. A higher current account deficit is likely to put further pressure on the domestic currency. The Russian invasion of Ukraine and likely lower exports of Russian crude oil will keep the oil prices elevated for a protracted period. "We note increasing risks of global crude prices staying elevated in the next 6-9 months due to large imbalances in the global crude oil markets," an analyst said. Brent soared to a near 14-year high of $140. Oil reached its highest … [Read more...] about Rupee trades at record low of 76.96 a dollar on soaring crude prices

With his fluffy black dog in tow, Gilberto Rodriguez left Venezuela two months ago on a perilous eight-country journey, mostly on foot, with dreams of a better life in the United States. Leaving behind his wife and two children, aged six and eight, Rodriguez has slept rough, gone hungry, witnessed violence and paid bribes to police. But he smiles from ear-to-ear as he caresses his loyal canine companion of two years, whose name "Negro" means "Black" in Spanish. "He has also crossed everything just like us, he eats the same we eat, he's also a migrant," he told AFP in the town of Tecun Uman in eastern Guatemala, the sixth country stop on his north-bound route. Their journey so far has taken Rodriguez and Negro from Caracas to Colombia and through the perilous Darien jungle to Panama. Close There, they came across some of the criminal gangs that prey on migrants fleeing poverty and political upheaval in their home countries. "We were with some women and they … [Read more...] about Migrant’s perilous 8-country journey to US with pet dog