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The Latest Breaking News from Income Tax

Ask the Editor, August 8: Tax Questions on Roth IRA Conversions

In this week's Ask the Editor Q&A, we answer tax questions from readers on converting a traditional IRA to a Roth IRA.

Kiplinger

Voices: ‘The fairest way’ or a ‘political disaster’? Readers split on whether Reeves should raise income tax

YOUR VIEWS: Our community is split over whether raising income tax is the fairest way to plug Britain’s £50bn budget gap or a risky move that could harm growth and Labour’s political standing

The Independent UK

Gold and gated communities: How rich India’s hoarding fuels inequality

Jo bhi hai wo theek hai, zikra kyon karenHum hi sab jahaan ki, fikra kyon karen.– Sahir Ludhianvi, Phir Subah Hogi, 1958. Truth, when repeated often enough, starts sounding very banal. It just doesn’t register. Take this sentence: India is an economically unequal country. The evidence is all around us, and…

Newslaundry

From analysis to the latest developments in health,
read the most diverse news in one place.

Dire economic crosswinds mean Rachel Reeves must raise income tax

THE INDEPENDENT VIEW: Editorial: Despite interest rates being brought to their lowest level in more than two years, a combination of meagre economic growth, high government spending and U-turns over proposed welfare cuts has trapped Labour in a fiscal straitjacket. But the chancellor must remember that good policy is good…

The Independent UK

Todd Jewell's Insights On Why Moving to Knoxville is a Smart Step to Unlock a Better Quality of Life

Tennessee's lack of state income tax and low property taxes make the cost of living significantly more affordable compared to many other cities. Yet Knoxville isn't just about savings.

International Business Times

Rachel Reeves needs to put up taxes to cover £40bn deficit, thinktank says

NIESR suggests a rise of 5p in the pound on basic and higher rate of income tax would fill the budget gap

The Guardian - UK

8 Places to Retire Where You’ll Actually Keep More of Your Money

When people think about retirement, they often imagine beaches, golf courses, and time with grandkids—not tax brackets, health care premiums, and housing costs. But where...

Saving Advice

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Some taxes are inefficient at any level. Even modest reforms will help

Australia’s tax system has come under scrutiny again ahead of the government’s reform roundtable later this month. Economists argue we could raise the same revenue with less economic harm by relying more on efficient taxes and less on inefficient ones.

The Conversation

5 Things the Wealthy Should Do To Prepare for Trump’s Income Tax Plan

Trump's "One Big Beautiful Bill," recently signed into law, overhauls the federal tax code and reshapes how high earners manage wealth, investments and planning

GOBankingRates

Who Would Benefit the Most From Trump’s Proposed Income Tax Plan?

While some economists have questioned the viability of this plan, if it were to happen, here's who might benefit most from the tax plan, according to experts.

GOBankingRates

I Asked ChatGPT What Would Happen if Trump Ended Income Taxes — There’s Good News and Bad News

Trump’s plan to replace income taxes with tariffs -- per a tax policy breakdown by ChatGPT -- could raise prices, slash federal revenue and widen inequality.

GOBankingRates

What Trump’s Income Tax Plan Means for the Economy and Your Wallet

While the idea of eliminating income taxes sounds appealing to a lot of people, here's what replacing those taxes with tariffs could mean for the economy and your wallet.

GOBankingRates

The IRS Is Now 25 Percent Smaller (and, Hopefully, Less Dangerous)

We still need real tax reform and much lower federal spending.

Reason

Great for Retirees: 12 States With Low Taxes and Low Cost of Living

Here are a dozen states that offer the best of both worlds for retirees who are looking to relocate.

GOBankingRates

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The Guardian - AU

The Productivity Commission has proposed a ‘cashflow tax’ for business. What does that mean?

The fact businesses cannot deduct financing costs means companies like coalminer Adani would not be able to avoid paying virtually any tax

GOBankingRates

5 Countries With the Most Wealth Equality

In the U.S. News & World Report ranking of income equality in 89 countries, the U.S. came in at No. 24. The following five countries came in on top.

Clever Dude

6 Retirement Accounts That Penalize for Early Access Without Warning

Saving for retirement is a big deal. You work hard, put money away, and hope it grows. But what if you need that money before you turn 59½? Many people don’t realize that some retirement accounts hit you with penalties if you take money out early. These penalties can shrink…

Kiplinger

Georgia Could Be Latest State to Eliminate Income Taxes

Eliminating the Georgia state income tax: Last-minute summer trend or permanent policy?

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The Guardian - AU

The biggest voices need to admit Australia is a low-taxing nation before joining the economic reform conversation

Acoss’s new report factchecks some myths about Australia’s tax system and should be the basis of any discussion at the government’s roundtable

Newslaundry

How money bills are being used to evade parliamentary debate on crucial matters

Over the last decade, some of the most significant legislations have been passed in Parliament with minimal debate in both houses. The Aadhar Act of 2016, amendments to the Prevention of Money Laundering Act (PMLA) and the Income Tax Act of 2025 are all examples of laws pushed through the…

Kiplinger

Take It From a Tax Attorney: This Is a Magic Multimillion-Dollar Tax-Saving Strategy

The qualified small business 1202 stock exemption is a $10 million exclusion that seems too good to be true and is often overlooked.

Evening Standard

OPINION - Will the income tax threshold freeze be extended? ...The Standard podcast

Listen here on your chosen podcast platform.

Evening Standard

How higher tax brackets in the UK compare to other major nations

UK taxes are relatively high, especially for middle and high-income earners, but how does that compare to other nations?

Clever Dude

Why Retirees Are Suddenly Leaving Florida in Record Numbers

Florida has long been the dream destination for retirees. The warm weather, beaches, and no state income tax have drawn people from all over the country. But something has changed. More retirees are packing up and leaving Florida than ever before. This shift matters because it affects not just those…

The Guardian - UK

UK politics: Tories’ energy policy shows they are ‘anti-science, anti-jobs, anti-future’ Miliband tells MPs – as it happened

Energy secretary says it is not clear if opposition have any net zero policy

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