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The Latest Breaking News from Jared Walczak

Dumping State Income Taxes Could Mean High Sales Taxes—or an Opportunity for Smaller Government

A new report warns that some plans for replacing income tax revenue rely on unrealistic assumptions.

Reason

California's 'Billionaire Tax' Could Bite Harder Than Advertised

The proposed tax is already driving people and businesses to flee the state.

Reason

Over 8M New Yorkers to Receive First-ever Inflation Refund Cheques of up to $400 Starting Sept. End

Over 8 million eligible New Yorkers will automatically start receiving refund cheques of between $150 and $400 starting at the end of this month.

International Business Times UK

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He’s the first American Pope in history, but Leo XIV might not be able to escape the IRS

The native Chicagoan and baseball fan will likely need to get his finances in order with the IRS, like any other American, despite his new status

The Independent UK

North Dakota's new governor eyes 'path to zero' property tax on people's homes. Can it be done?

North Dakota is in a unique position to use its oil wealth to eventually end property taxes on people's homes under a plan from new Gov. Kelly Armstrong

The Independent UK

Billionaire Jeff Bezos, a soon-to-be Florida man, sparked a debate over taxes without mentioning them. The implications of his Seattle-to-Miami move show why

The Amazon founder, thanks to key tax differences between Florida and Washington, could save billions with the move. But he says it's for personal reasons.

Fortune

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

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States put grocery taxes on ice

As inflation soared in the past year, families in some states suffered a double whammy — paying food sales taxes on top of higher-priced groceries.

Tribune News Service

Borrowers in 7 states may be taxed on their student loan cancellation

Seven states have tax policies on the books that could require them to treat student loans canceled by the federal government as taxable income.

WEKU

Surprise: Borrowers may face up to $1,100 in state taxes on forgiven student loans

Residents of New York, Virginia and eleven other states could end up with a surprise tax hit of hundreds of dollars next year on forgiven student loans.

Tribune News Service

Despite economic headwinds, most state budget experts aren’t worried

Grocery, gas and housing prices are up this year. The stock market is down. Voters are souring on the economy, and some analysts are warning of a looming recession.

Tribune News Service

Gov. Newsom’s inflation relief package could drive up prices even more, experts say

SACRAMENTO, Calif. — An $18.1 billion inflation relief package proposed by Gov. Gavin Newsom will put salve on key pain points for Californians most affected by rising gas and grocery prices but also likely will cause prices to tick up just a tad more, leading economists say.

Tribune News Service

High Inflation Means Rising Tax Bills

The current run of price and wage increases could tip taxpayers into higher brackets, where they will owe larger slices of their income to the government.

People

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