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The Latest Breaking News from Income Tax

Joseph Stiglitz: tax high earners at 70% to tackle widening inequality

Nobel prize-winning economist calls for new top rate of income tax and 2-3% wealth tax on fortunes

The Guardian - UK

Tax cheat 'family man' spared jail as court told of cocaine habit

Justin Barker failed to pay up more than £70k in tax and VAT

Manchester Evening News

Tax cheat dad, 49, said coke habit 'destroyed marriage'

The court heard Justin Barker was "once wealthy" and failed to pay up over £70K

Liverpool Echo

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W.Va. House passes bill to cut personal income tax by half

West Virginia’s Republican-dominated House of Delegates has passed a historic 50 percent reduction of the state’s personal income tax

The Independent UK

Eamonn Holmes in challenge to tax tribunal ruling over ’employee’ status at ITV

The broadcaster previously brought a case against HMRC over the income tax and national insurance the body said was due.

The Independent UK

Today’s Interview: Tax Foundation analyst reviews HB1, which would further reduce Kentucky’s inc

Today’s Interview: Tax Foundation analyst reviews HB1, which would further reduce Kentucky’s income tax

WEKU

IRS gives drenched Californians an extra month to file tax returns

The Internal Revenue Service offered a lifeboat of sorts Tuesday to California residents and businesses floundering in the atmospheric river: More time to pay their income taxes.

Los Angeles Times

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Plaid Cymru accuses Mark Drakeford of lacking the will to give nurses a pay rise

Mark Drakeford accused Plaid leader of misrepresenting how government finances work

Wales Online

Editorial: IRS gets financial windfall, but keeps same old stripes

Congressional Democrats last year showered the IRS with $80 billion in new funding in an effort to close an estimated $600 billion “tax gap,” the difference between income taxes actually owed and those actually collected. This was supposed to help pay for the Biden administration’s ongoing spendapalooza that has run…

Tribune News Service

Tax incentives to encourage reduction in plastic usage

The Industry and Finance ministries are using a new corporate income tax reduction programme to encourage businesses to use more biodegradable plastic products, in a move to reduce waste.

Bangkok Post

In 2022, the IRS Went After the Very Poorest Taxpayers

Despite $80 billion in new funding, the agency is living up to its reputation of hassling low-income taxpayers over rich people.

Reason

Plan to cut income tax again advances out of Kentucky House

WEKU

Tax cuts, maybe medical cannabis: what’s in store for the 2023 Ky. General Assembly

WEKU

Reform UK to field candidate against every Tory at next election, says leader

Richard Tice rules out 2019-style deal with Conservatives even if they back some of his party’s policies

The Guardian - UK

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Daily Record

Financial expert warns people could end up paying more tax from April

The freeze on income tax thresholds could see some people paying more tax on their salary.

The National (Scotland)

UK Government urged to levy wealth tax in 2023 to tackle cost of living crisis

THE UK Government is being urged to make 2023 the year they levy a wealth tax against the super-rich and use the revenue to support those…

WEKU

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…

Axios

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.

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Irish Mirror

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

The Times of India

Big write-offs, Tax-cut perks: Key takeaways from Donald 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

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.

Daily Record

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.

Irish Mirror

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)

Dublin Live

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

Salon

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

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