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The Latest Breaking News from Income Tax

Does Your State Have a Child and Dependent Care Tax Credit?

Over two dozen states, plus the District of Columbia offer tax credits or deductions for working families.

Kiplinger

Fact check: Savers have long had to pay tax if earning more than £1,000 interest

A widely shared claim stated that the Government would now tax you if you have more than £10,000 in savings.

Evening Standard

Amazon founder Jeff Bezos kept his base salary modest during his 20 years as CEO. It likely saved him millions in taxes

Billionaires are able to skirt income taxes through this tax loophole, finds ProPublica.

Fortune

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

New Mexico's oil income investments now surpass personal income tax revenue

For the first time, New Mexico’s investment income is expected to surpass its revenue from personal income taxes

The Independent UK

Income tax will be frozen until 2026, Finance Secretary promises

Shona Robison said more people will also be pulled into paying lower rates of tax as thresholds increase by around double the rate of inflation.

Evening Standard

Tax cuts for majority of Scottish workers in SNP Government Budget

THE majority of Scottish workers are in line for a tax cut from the SNP Government Budget, the Finance Secretary has announced ...

The National (Scotland)

A Taxpocalypse of Rising Rates Is Coming For Americans if Congress Doesn't Act

Here's how expiring tax cuts could affect you.

Reason

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Wealthy millennials are flocking to Florida and Texas—and no one wants to live in New York or California

Sunshine, open space, and lack of income taxes are luring high-earning young professionals out of their tiny city apartments and down South.

Fortune

Scottish income tax policy not working, financial services body claims

Scottish Financial Enterprise said rates should be brought more closely in line with those south of the border.

The Independent UK

Louisiana Has a New Income Tax Rate: What It Means for You

Louisiana lawmakers passed a massive tax reform bill including changes to the state income tax and sales tax rates.

Kiplinger

Louisiana Legislature Passes Tax Cuts And Sales Tax Increase

Louisiana legislature approved tax cuts to attract businesses, sparking debates on economic impact.

Top News

Louisiana lawmakers pass income and corporate tax cuts, raising statewide sales tax to pay for it

Louisiana’s GOP-dominated legislature passed tax cuts on personal and corporate income on Friday in exchange for a statewide sales tax increase, a mixed bag of success for Gov. Jeff Landry, whose original tax revision plans faced resistance from lawmakers and lobbyists amid hard fiscal realities

The Independent UK

5 FAQs About 529 College Savings Plans

Thanks to recent policy changes, families have more options for what to do with money sitting in tax-advantaged 529 accounts.

Kiplinger

Tax Credit vs. Tax Deduction: What’s the Difference?

Your guide to tax deductions and credits, how the IRS treats them differently, and how they impact your tax bill.

Kiplinger

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Evening Standard

OPINION - The farmer's protest is a consequence of Labour's pre-election tax choices

A day like today is not a day for false dichotomies, we can leave those at home. But governments generally face a simple choice when it comes to raising money, between broad-based taxes (e.g. income tax) or granular (e.g. inheritance tax threshold changes for farmers). Both have their advantages and disadvantages, as is being…

The National (Scotland)

'Uncertainty' over whether SNP tax policy has cut revenues, says think tank

RESEACHERS have said they are unable to establish whether higher taxes in Scotland have cut Government revenues.

Evening Standard

Fact check: Projections of fiscal drag effect on pensioners are not from HMRC

Claim that £130 of tax to be collected on everyone receiving state pension relies on tax thresholds staying frozen longer than anticipated.

Reason

Abolish the IRS—and the Income Tax Too

Americans spent an estimated $133 billion and 6.5 billion hours filing their tax returns in 2024.

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Dynamite News

Income Tax raids residence of CM Soren's alleged aide ahead of polls

The Income Tax department is conducting raids at the residence of Sunil Srivastava. Read further on Dynamite News:

Kiplinger

IRS Updates Capital Gains Tax Thresholds for 2025

For the 2025 tax year, the IRS has increased the capital gains tax income thresholds. Here's what you need to know.

Kiplinger

Earned Income Tax Credit (EITC) 2025 and 2026: How Much Will You Get?

The refundable amount for workers with or without children is slightly higher this year. Here’s what you need to know.

The Independent UK

Bus fare hike same as 1p income tax rise on working people who commute - new analysis

The Department for Transport has disputed claims that the 50 per cent rise in the cap on a single bus ticket equates to a 1p rise in income tax

AAP

Broken system lets big business off tax hook: institute

Major corporations that pay no company income tax are taking advantage of a broken system that needs government intervention, a think tank says.

The Guardian - AU

Qantas, Virgin, Netflix and Canva among 1,200 major companies that paid no income tax in Australia in 2022-23

ATO finds 31% of large businesses reported nil tax paid as many companies deducted losses and used offsets to dial their bills down to zero

AAP

Miners dominate company tax list as others pay zero

A corporate income tax haul of almost $100 billion is being hailed as a "great result" but almost a third of major Australian companies avoided a tax bill.

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