The Latest Breaking News from Income Tax

A 401(k) is often one of the most valuable assets a person leaves behind, but inheriting one isn’t as simple as cashing a check. Many families are surprised to learn that certain circumstances can lead to additional tax bills after the account holder passes away. From federal income taxes to…

For years, many people assumed that passing down a Roth IRA to their heirs was a tax-friendly move that wouldn’t trigger hefty estate taxes. But as tax laws evolve, so does the answer to whether your Roth IRA is still protected from estate taxes in 2025. Roth IRAs remain attractive…

For Americans in lower- and middle-income tax brackets, the enhanced deduction for older people reduces taxable income, shielding most of their Social Security benefits from being taxed.

In this week's Ask the Editor Q&A, we answer tax questions from readers on converting a traditional IRA to a Roth IRA.

YOUR VIEWS: Our community is split over whether raising income tax is the fairest way to plug Britain’s £50bn budget gap or a risky move that could harm growth and Labour’s political standing

Jo bhi hai wo theek hai, zikra kyon karenHum hi sab jahaan ki, fikra kyon karen.– Sahir Ludhianvi, Phir Subah Hogi, 1958. Truth, when repeated often enough, starts sounding very banal. It just doesn’t register. Take this sentence: India is an economically unequal country. The evidence is all around us, and…

THE INDEPENDENT VIEW: Editorial: Despite interest rates being brought to their lowest level in more than two years, a combination of meagre economic growth, high government spending and U-turns over proposed welfare cuts has trapped Labour in a fiscal straitjacket. But the chancellor must remember that good policy is good…

Tennessee's lack of state income tax and low property taxes make the cost of living significantly more affordable compared to many other cities. Yet Knoxville isn't just about savings.

NIESR suggests a rise of 5p in the pound on basic and higher rate of income tax would fill the budget gap