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The Latest Breaking News from Income Tax

Legislature's three-month sprint reflects sea change in Michigan policy, politics

LANSING, Mich. — The Democratic majorities in the House and Senate in their first three months of session have ditched a right-to-work law, revived the prevailing wage for state construction projects, scrapped an abortion ban, boosted low-income tax credits and cut taxes on residents receiving pensions.

Tribune News Service

Think Texas has a cheaper tax burden than California? Think again.

"When people are like, 'Oh California is so much more expensive than Texas,' that’s the top income tax rate."

Fortune

OPINION - The Standard View: As the capital’s income tax bill hits £50bn, Londoners are feeling the pinch

Interest rates are an inherently blunt tool — they come with unfortunate and imprecise time lags. But they remain our best device for bringing inflation down, contributing to economic stability and ultimately prosperity.

Evening Standard

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London’s income tax bombshell hits a record £51.6 billion

Kensington now pays more income tax than the whole of Northern Ireland

Evening Standard

I-T dept launches app for taxpayers to view TDS, interest, dividend income info

NEW DELHI: The income tax department on Wednesday said it has launched the 'AIS for Taxpayer' mobile app which will give taxpayers a comprehensive view of their information related to TDS/TCS, interest, dividends and share transactions, and an option to provide feedback.

The Times of India

States cranking out even more tax cuts amid cash surpluses

The tax-cutting trend is going full force in states even as some are raising concerns about a slowing economy

The Independent UK

More than six in 10 Irish taxpayers missing out on medical expense refunds

New figures show that almost half a million people overpaid a total of €300 million in income tax in 2021

Irish Mirror

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OPINION - There are tax burdens hidden in Jeremy Hunt’s spring Budget

Jeremy Hunt’s Budget could cost UK housesholds thousands over the coming years

Evening Standard

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

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

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Daily Record

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.

Chronicle Live

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

Evening Standard

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.

Irish Mirror

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

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Daily Record

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 Mirror

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

Los Angeles Times

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.

Bangkok Post

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.

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.

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