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The Latest Breaking News from Income Tax

Which states have the highest and lowest income tax?

Forty-three states and Washington, DC, collect income taxes every year—and seven states collect no income tax. Here’s where you can expect to pay more, or less.

USAFacts

New State Pension increase this month could see more retired people paying tax

The full new State Pension is worth £10,600 over the 2023/24 financial year.

Daily Record

How to Lower Your Tax Bill Next Year

Knowing how to lower your tax bill (pay less taxes) when it's time to file your return next year requires some strategizing through the rest of 2023. Here are some tax tips to help make it happen.

Kiplinger

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The Cheapest States to Start a Business

Entrepreneurs need every edge they can get, and location plays a big role in the success of a business. These are the states with the lowest costs to start an LLC.

The Street

Commentary: Lotteries are a regressive tax. Why do progressive governors support them?

As states look to generate more revenue in an inflationary economy, along with the risk of a recession, progressive governors like J.B. Pritzker of Illinois who advocate for progressive income taxes also support one of the most regressive taxes: lotteries. This sort of “taxation” increases revenue without the stigma associated…

Chicago Tribune

Joe, Jill Biden release tax return, showing $579,514 in income

Washington (AFP) - America's first couple didn't do too badly last year, earning $579,514, although this was a good chunk less than the previous year, according to Joe and Jill Biden's tax return, made public Tuesday.

AFP

Bidens paid 23.8% taxes on $579,514 earnings, returns show

President Joe Biden and his wife, Jill, made $579,514 last year and paid $137,658 in federal income taxes

The Independent UK

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First Minister hints he'll hike taxes on wealthiest for public spending boost

THE First Minister has expressed interest in proposals which would see income tax hiked on the wealthiest in society to raise more money for the…

The National (Scotland)

Trade union chief demands new income tax rate on earnings over £75,000

Roz Foyer also said more strikes were "unavoidable" unless Government pay policy changed

Daily Record

New push on US-run free electronic tax-filing system for all

It’s that time of year when throngs of taxpayers are buckling down to file their income tax returns before Tuesday’s filing deadline, and many often pay to use software from private companies such as Intuit and H&R Block

The Independent UK

Ask the Expert: How to maximise your super return – and do taxes ever come to an end?

Question 1: When do you stop paying tax? Death and taxes. It can sometimes take the former to stop the latter. Basically, you stop paying income tax when

The New Daily

Who is Required to File a Tax Return, and Who Isn't

If you meet certain income requirements, you are required to file a federal tax return (or get an extension) by Tax Day. You could face penalties if you don't.

Kiplinger

Tax deadline 2023: Tuesday is last day to file taxes or an extension

Uncle Sam is giving an extra three days to file income tax returns and pay taxes this year.

Axios

Commentary: How Los Angeles’ first female public defender pioneered the rule that led to Trump’s indictment

Warren G. Harding was a terrible president, but he did get two things right. He freed an ailing Eugene Debs from federal prison, where Debs had been locked up for criticizing World War I, and he appointed Mabel Walker Willebrandt, Los Angeles’ first female public defender, as assistant attorney general…

Los Angeles Times

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The Conversation

Why is Tax Day on April 18 this year? And how did early spring become tax season, anyhow?

Mid-April has arrived. And along with the spring sunshine, that means the often dreaded civic duty of finishing off one’s taxes.

Glasgow Live

Glaswegians urged to check April payslips for tax code error and higher deductions

Scottish tax payers are being urged to check their payslips this month to make sure there are no errors after the new financial year began just days ago on April 6.

Tribune News Service

States feel budget pinch amid darkening revenue projections

After two years of record tax collections, budget writers in some states are starting to feel a revenue pinch created by a slumping stock market, banking and tech layoffs, slower consumer spending and lower energy prices.

Daily Record

People urged to check take-home pay this month for tax code error and higher deductions

The new financial year has started which means every worker should check their next payslip.

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The Independent UK

Rishi Sunak plotting autumn 2024 election ‘after income tax cut’

Tories keen for voters to feel ‘more money in their pockets’ before going to polls

AAP

Treasurer defends phase out of low income tax relief

A tax offset offered to low and middle income earners over the last three years is being axed, with the Albanese government saying it is no longer affordable.

Tribune News Service

Who are the best pro golfers in Las Vegas? Here’s our top 10.

LAS VEGAS — Las Vegas has become home to professional golfers drawn to the area’s great weather, excellent courses, dining and entertainment options, easy access to and from tournaments and lack of state income tax.

The Street

What Is the Effective Tax Rate? Definition & Example

You pay taxes. That much in and of itself should not come as a surprise. (If it is, we apologize for breaking the news in such a blunt fashion. You should probably talk to an accountant and an attorney right away, though.) How much you pay in taxes, that's more…

Wales Online

The seven money changes now in place as new tax year starts

Thursday, April 6, is the start of the 2023/24 tax year

Kiplinger

Are Roth IRAs Really as Great as They’re Cracked Up to Be?

While a Roth IRA is an excellent tax strategy, that doesn’t mean you should underestimate the benefits of a traditional tax-deferred retirement account.

Daily Mirror

7 money changes kicking in TODAY as new tax year begins - including pension rules

The new tax year begins today and with it comes a whole series of adjusted money rules and changes, affecting everything from your pension to how much you pay in tax if you're a high earner

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