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FBR Clarifies New Asset-Value Field on Tax Returns Ahead of Sept. 30 Deadline

Officials say the entry is for policy data with no tax consequences.

Overview

  • FBR said the market-value column was incorporated into the 2025 IRIS return form on August 18 without a new SRO.
  • The filing deadline for income tax returns remains September 30.
  • The authority said the disclosure is intended to improve policymaking and will not be used to calculate taxes, reconcile wealth statements, or initiate proceedings.
  • Officials noted many filers had previously entered zero in the field; the system now restricts that and expects values close to market prices.
  • Addressing concerns about do-overs, FBR stated that taxpayers who already filed will not be asked to re-file.