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The Latest Breaking News from Income Tax

Biden Wants a Higher Child Tax Credit and So Do Some Republicans

President Biden wants to revive the higher child tax credit and monthly advance payments, while some Republican senators have their own ideas for the popular tax break.

Kiplinger

Jeremy Hunt’s ‘stealth’ income tax rise: here’s how it will affect you

Millions of Britons face paying basic or higher-rate tax for first time. We look at how much it will cost and what you can do

The Guardian - UK

UK’s tax burden on course to hit highest level since Second World War

The UK’s tax burden is expected to reach a post-war high of 37.7% of GDP in 2027-28.

The Independent UK

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Forget post-election tax cuts, we’re stuck in a lost decade, says IFS

The IFS has cast its eye over Jeremy Hunt’s Budget as millions of Britons face being dragged into paying more income tax

Evening Standard

What Jeremy Hunt’s budget means for pensions, childcare, income tax and more

How the measures will affect Britons’ finances – and who will be the winners

The Guardian - UK

Budget 2023: what it means for people on a range of incomes

How Hunt’s measures on tax and benefits will affect single people, couples and those receiving pensions

The Guardian - UK

Finance expert warns some working people could end up paying more tax from April

The freeze on income tax thresholds could see high-earners paying more tax on their salary.

Daily Record

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State Pension rise for millions in April may see people having to pay tax on income

While the increase in State Pension payments will help offset the costs of living, it also means more older people may have to pay tax - here's why

Chronicle Live

Londoners face tax ‘hammer blow’ from stealth raid

Nearly a million workers in London and the South-East are facing a tax “hammer blow” as more people are sucked into paying the higher rate of tax.

Evening Standard

Thousands of people in Ireland entitled to once-off €500 cash boost available online now

The new Rent Tax Credit is available for the tax years 2022 to 2025 and reduces the amount of Income Tax that you are due to pay for a tax year

Irish Mirror

State Pension increase next month could mean half a million more people in retirement pay tax

Older people on the Full New State Pension will receive £10,600 over the next financial year.

Daily Record

How to slash your income tax burden - before crucial deadline in just four weeks

Bestinvest personal finance analyst Alice Haine runs through everything you need to know about reducing your tax burden before the end of the current tax year

Daily Mirror

Michael Hiltzik: Wall Street Journal tells us to weep for the plight of the very, very rich

Coverage of the richest Americans in publications aimed at their tax bracket tend to fall into two genres.

Los Angeles Times

Firms issuing tokens to get tax breaks

The cabinet on Tuesday agreed to waive corporate income tax and value-added tax for companies that issue digital tokens for investment, a government spokeswoman said.

Bangkok Post

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The New Daily

No time for ‘freebies’: Calls for another tax break to be axed

Income tax cuts are back at the centre of debate as key independents say the public won’t tolerate another tax break for the very wealthy.

Bangkok Post

Fresh calls for tax reform

In the past several years, various economists have called for restructuring Thailand's tax system but met with little response from the government or society at large.

Tribune News Service

Black married couples pay a higher ‘marriage penalty’ on taxes than white couples, study finds

Married Black couples often pay more in federal income tax than White married couples. And the racial disparity in California may exceed the national average.

Kiplinger

Tax Day: When Is the Last Day to File Your Taxes?

Tax Day falls on April 15 this year. However, some people have an extended tax deadline and extra time to file. Are you one of them?

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Bangkok Post

Think tank calls for personal income tax restructuring

The government needs to revamp the tax structure, especially the personal income tax, to bridge the income gap and ensure a fairer system, according to the National Economic and Social Development Council (NESDC).

The Independent UK

Don't miss these 3 tax credits when you file this year

Unlike a deduction, which decreases the income on which you’ll be taxed, a tax credit reduces your overall tax due

Fortune

This is the best way to save $750 per month, according to financial advisers

By creating a realistic budget, taking advantage of tax opportunities, and increasing your earning potential, you can make small tweaks in your financial habits add up fast.

Fortune

Buffalo Bills player Jordan Poywer is the latest to slam New York taxes and says he’d ‘love to go to a state that doesn’t take half my money’

State income taxes are becoming a factor in where free agents decide to play—and the wealthy decide to migrate.

Kiplinger

Filing a Deceased Person's Final Income Tax Return

Unfortunately, death doesn’t relieve one’s obligation to file a final federal income tax return.

Newslaundry

Government suspends Centre for Policy Research’s FCRA licence

The central government has suspended the Foreign Contribution Regulation Act licence of the Centre for Policy Research, Economic Times reported today. CPR is a non-profit think tank which examines and researches government policies

The Guardian - UK

Bigger public sector pay rises unaffordable, chancellor says

Jeremy Hunt says he will not improve pay offer despite surprise budget surplus

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