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The Latest Breaking News from Income Tax

How Much You’d Take Home Making $250K a Year If Trump Eliminates Income Taxes

President Donald Trump has proposed the elimination of the federal income tax. But what would that mean for your take-home pay if you make $250,000.

GOBankingRates

Every U.S. Olympian was promised a $200,000 payout, but how much they actually keep depends on where they live

Olympians will get a post-tax income boost ranging from about $48,350 to $73,146, according to a Fortune analysis based on today’s tax rates.

Fortune

7 Bad Tax Habits to Kick Right Now

Ditch these seven common habits to sidestep IRS red flags for a smoother, faster 2026 income tax filing.

Kiplinger

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Living in One State, Working in Another: How to Avoid a Tax Season Headache

Living and working in two states can take a heavy toll on your paycheck and give you a headache come tax time. Here's what to know.

Kiplinger

How Much Gold Can You Legally Keep at Home in India? What the Law Really Says

Gold in an Indian home is never just gold. It is a mother’s wedding bangles locked away for decades, a chain bought during a good harvest, a pair of earrings gifted quietly by a grandmother “for your future.” Yet the moment news breaks about an income-tax raid or gold seizure,…

Times Life

Ask the Editor, February 6: Questions on Federal Income Tax Deductions

In this week's Ask the Editor Q&A, Joy Taylor answers questions on federal income tax deductions

Kiplinger

Ohio Income Taxes Just Changed: The New 2.75% Flat Rate Explained

Ohio has officially entered a new era of fiscal policy. Starting in 2026, the state fully transitioned to a flat tax system. This move simplifies the filing process and increases the state’s economic competitiveness. The change concludes a multi-year effort to condense Ohio’s complex, multi-bracket tax structure into one streamlined…

Budget and the Bees

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Dumping State Income Taxes Could Mean High Sales Taxes—or an Opportunity for Smaller Government

A new report warns that some plans for replacing income tax revenue rely on unrealistic assumptions.

Reason

7 Things That Will Get Cheaper After Budget 2026

Most budgets promise relief. Very few actually change what you pay in real life. Budget 2026 is one of those rare ones that works quietly. There were no dramatic tax cuts, no loud announcements, and no instant price drops flashed across screens. Yet, beneath the fine print, the government made…

Times Life

Bengaluru Real Estate Executive C.J. Roy Found Dead Amid Income Tax Searches

C.J. Roy, 57, chairman and founder of the Confident Group, a prominent real estate developer, was found dead with a gunshot injury at his Langford Town residence on Friday, according to police.

Whats Hot

Ask the Editor, January 30: Questions on Social Security Benefits Taxation

In this week's Ask the Editor Q&A, Joy Taylor answers questions on the taxation of Social Security benefits

Kiplinger

Here’s when you can expect your tax refund from the IRS

Tax refunds are issued when an individual has paid more tax throughout the year than they ultimately owe, often due to withholding

The Independent UK

Don't Overpay the IRS: 6 Tax Mistakes That Could Be Raising Your Bill

Is your income tax bill bigger than expected? Here's how you should prepare for next year.

Kiplinger

Oregon Tax Kicker in 2026: What's Your Refund?

The Oregon kicker for 2025 state income taxes is coming. Here's how to calculate your credit and the eligibility rules.

Kiplinger

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Budget and the Bees

The Jan 27 “Tax Kickoff”: 5 Changes to the EITC That Could Boost Your Refund This Year

Tax season officially opened yesterday, January 26, but for millions of working Americans, the real headline isn’t the date—it is the quiet expansion of the Earned Income Tax Credit (EITC). Often called the “working family’s bonus,” the EITC has been adjusted for inflation and tweaked by the recent tax overhaul.…

The Guardian - UK

Reform says it would cut green policies to fund £2bn income tax cut in Scotland

Party’s pitch to voters in May Holyrood elections dismissed as ‘profoundly unserious, almost comically so’ by head of IPPR Scotland

The Independent UK

Florida is pricing retirees out. Here are 3 states they’re flocking to instead

Florida’s spike in real estate prices and higher cost of living has made it unaffordable for many retirees earning $75,000 or less

The Conversation

Stealth tax rises are on the horizon for Scotland ahead of its election

When Scotland’s finance secretary, Shona Robison, delivered the Scottish budget for 2026-27 on January 13, she framed it as a budget for families that would ease pressure on household finances. Coming only a few months before the Scottish parliamentary elections in May, this budget is especially significant.

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GOBankingRates

10 Most Desirable States To Live in — Which One Is Cheapest?

The cost of living may not be the only factor when choosing where to live, but it's an important one. According to North American Moving Services, states with higher income tax saw the largest number...

Kiplinger

12 Tax Strategies Every Self-Employed Worker Needs in 2026

Navigating the seas of self-employment can be rough. We've got answers to common questions so you can have smoother sailing.

Budget and the Bees

Mississippi Drivers: Why Your Income Tax Just Dropped to 4% (And What to Do With the Extra Cash)

If you look at your pay stub this month, you might notice a small but welcome change. Your take-home pay is slightly higher. That is because Mississippi is in the middle of a historic tax overhaul. As of January 1, 2026, the state individual income tax rate has officially dropped…

Reason

California's 'Billionaire Tax' Could Bite Harder Than Advertised

The proposed tax is already driving people and businesses to flee the state.

GOBankingRates

Will Trump Replace the Income Tax? The 3 States That Would Suffer the Most

Will President Trump replace the income tax? If so, here are three states that may suffer the most.

GOBankingRates

I Asked ChatGPT What Would Happen If Income Taxes Became Flat-Rate

ChatGPT predicted winners, losers and major economic shifts if federal income taxes were to go flat-rate. Here's how a flat tax could impact your wallet.

Newslaundry

HC quashes I-T notice against NDTV founders, slams Rs 2 lakh fine on tax department

The Delhi High Court has quashed the income tax reassessment notices issued to NDTV founders Prannoy Roy and Radhika Roy in March 2016 over certain interest-free loans to NDTV promoter RRPR Holding, according to Bar and Bench. The court also told the tax department to pay a token cost of…

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