The Latest Breaking News from Income Tax

Experts say stamp duties and income taxes have a much higher burden than more efficient policies, such as GST

Letters: Most people support a wealth tax on £10m fortunes and want to equalise capital gains and income tax, writes Caitlin Boswell. Plus, letters by Christopher Bowser and Alan Fairs

SpaceX, the space exploration company founded by Elon Musk, has reportedly paid minimal to no federal income taxes since its establishment in 2002, despite receiving billions in federal contracts.

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…

Unexpected growth in the UK economy isn’t enough to detract from the gaping hole in the country’s public finances. Speculation is ramping up about what steps the chancellor of the exchequer, Rachel Reeves, might take to plug the gap come the budget in autumn – and there are no shortage…

In this week's Ask the Editor Q&A, we answer tax questions from readers on the OBBB and changes, if any, to tax rates.

Could a major tax shift in one state be an example for other states to follow?

A six-figure salary is a goal for many people. However, even if you have gotten to a place in you're life where you're making a six-figure salary, you might be taking home a lot less after taxes,...

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.