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The Latest Breaking News from Income Tax

Social service advocates are seeking a stop to further income tax reductions

Close to 30 organizations are calling upon the Kentucky General Assembly to put a pause on further reductions in the state income tax rate. It fell a half percentage point January first. On day one of the legislative session, speakers expressed concerns that future scheduled cuts could mean less state…

WEKU

New tax brackets and other IRS changes can boost paychecks, lower taxes

Yearly changes made by the IRS can have a significant impact in the era of high inflation.

Axios

Social welfare increases 2023: Big change in payments to recipients as Budget measures take effect

The Department of Social Protection budget allocation is €23.4 billion in 2023

Irish Mirror

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Big write-offs, tax-cut perks: Key takeaways from Trump’s tax returns

WASHINGTON — Massive losses and large tax deductions in Donald Trump’s returns reveal how the former president was able to use the tax code to minimize his income tax payments.

Tribune News Service

Trump's Four Big Tax-Return Mistakes: Don't Make Them

Don't do what Donald Trump did in his federal tax returns. That's to avoid an IRS audit, financial advisors say amid release of the Trump tax returns.

Investors Business Daily

Future of State Pension Triple Lock rule is 'difficult decision’ for UK Government, warns money expert

There is also speculation that the State Pension age could increase a decade earlier than planned.

Daily Record

The Budget money changes that come into effect in January for social welfare recipients and workers

The weekly rate for a qualified child will increase by €2 from €40 to €42 for children under 12 years of age. It will increase by €2 from €48 to €50 for children aged 12 years and over (January 2023)

Irish Mirror

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New lower tax rate of just 30 per cent to be considered by Government

“We want to help people somewhat with the cost of living, certainly," Varadkar said

Dublin Live

Trump’s brazen tax cheating revealed

That Trump persisted in using the same fraudulent technique in 6 years of recent tax returns is evidence of intent

Salon

Mark Drakeford explains his plans for income tax in Wales after admitting he has seriously considered increasing it

The First Minister asked Westminster for tax raising powers, but said he won't be using them soon

Wales Online

Rishi Sunak's stealth tax to cost an average-earning couple £8,000 in a decade

Two 'median earners' on £33k will be £8,000 worse off by 2031 compared to if income tax thresholds had risen by inflation - meaning nurses and teachers are badly hit by Rishi Sunak's policy

Daily Mirror

The Loop: January 6 committee delays releasing final report, Zelenskyy and Biden meet, and H&M pulls Justin Bieber collection — as it happened

The news Australia is searching for, and all the news that happened while you snoozed: This is The Loop, your quick catch-up for this morning's stories as they happen.

ABC News

HMRC issues update for those paying income tax ahead of new mandatory software

The Government is giving people more time to prepare for changes

Nottingham Post

Ask the Expert: How to take advantage of salary sacrifice

One of the big advantages of salary sacrifice is that the more you do it, the more income tax is saved, so you can then afford to do more.

The New Daily

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The Independent UK

Rishi Sunak’s £150bn ‘stealth tax raid’ will cost families £5,000 each

Exclusive: Labour analysis of OBR forecasts reveals staggering cost of tax squeeze until 2028

WEKU

GOP lawmakers discuss medical cannabis, taxes and abortion ahead of 2023 session

The National (Scotland)

Tories 'put Unionism before the NHS' with attack on Budget tax rises

SCOTLAND’S struggling health services cannot improve without tax increases for higher earners, the Health Secretary has said, as he claimed…

The National (Scotland)

Economists, charities, and everyone else: How Scotland reacted to the Budget

THE Scottish Government has laid out its Budget for 2023-2024 in a heated Holyrood session which saw accusations of leaking to the media fly…

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Insider UK

Scottish budget: John Swinney moves on income tax and business rates while scrapping indyref2 fund

Statement delayed due to tax plan leak to the BBC

Edinburgh Live

Scottish budget as taxes to rise - how much you will pay under new rates

Deputy First Minister of Scotland John Swinney will today increase devolved income tax for those earning over £43,000 annually - in a bid to boost public sector pay.

Daily Record

Scottish Budget: Middle and higher income Scots hit with rise in taxes

The higher and top rates of income taxes will increase by 1p in a bid to shore up public services across the country.

Chicago Tribune

Billionaire Ken Griffin sues IRS over leaked tax records

Multibillionaire Ken Griffin filed a lawsuit against the IRS Tuesday alleging the agency violated his right to privacy after investigative journalism outlet ProPublica reported in April on the tax records of the Republican megadonor and former Chicagoan.

Roll Call

Earned income credit backers aim to keep expansion on the radar - Roll Call

Outside groups are urging Congress to bolster a key tax benefit for low-income workers in a year-end legislative package.

Daily Record

Scottish Government will continue 'progressive taxation model' says Social Justice Secretary

Shona Robison's comments come after the Record revealed the Government is considering raising income tax rates.

Fortune

Billionaires had an extra $1 trillion to influence the midterm elections. Save American democracy by taxing extreme wealth

Billionaire spending in the 2022 midterm elections was up 44% compared to 2018–but a minimum income tax on billionaires is gaining support in Congress.

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