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The Latest Breaking News from Income Tax

Here's what you need to know about the deceased's final tax return, reporting income and deductions, inheritance and more.

The Street

Veteran advisor reveals different Harris, Trump tax plan impacts

As proposals are reviewed, a word of caution is emphasized.

The Street

Ticketmaster 1099-K: A guide to 1099-K reporting for sellers

Sell on Ticketmaster? Get a 1099-K if payments exceed the threshold. Report all sales, pay tax only on profits. No 1099-K? You still must report profits.

The Street

From analysis to the latest developments in health,
read the most diverse news in one place.

What is Net Investment Income Tax (NIIT) and Who Pays It?

Find out which income levels are subject to the 3.8% NIIT surtax.

Kiplinger

What is the marginal tax rate and how to calculate it

Your marginal tax rate is the highest tax rate you’ll pay on your income, based on your federal income tax bracket. Learn more about this tax rate.

The Street

S-corp taxes: An introductory guide

S corporations pass income, losses, and credits to owners, who report them on personal taxes.

The Street

Nearly 10% Of S&P 500 Companies Paid No Tax — Including Tesla

With all the bellyaching about U.S. corporate taxes, you'd think S&P 500 companies were paying up. But some get away with paying nothing.

Investors Business Daily

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Partnership taxes: A guide for beginners

Partnerships don't pay federal tax; income, losses, and credits pass to partners, who report them. Learn more about partnership taxes here.

The Street

What Is the Tax Cuts and Jobs Act (TCJA)?

Everything you need to know about the TCJA and key tax credits and deductions currently set to expire at the end of 2025.

Kiplinger

Day Trade Tax Rate Explained: How Much Traders Pay

Understanding the day trade tax rate might appear complicated. A lot of traders feel confused when it's about taxes. What will be the amount due? Which regulations should you be aware of? These are typical queries that lead to bewilderment.

inkl

Scottish income tax policy has 'little to no impact' on most businesses – new study

MORE than half of businesses in Scotland have experienced “little to no impact” from the Scottish Government’s income tax policy, according to…

The National (Scotland)

Trump and Harris Both Favor Tax Hikes That Would Hurt Ordinary Americans

The costs of steep tariffs and a higher corporate income tax extend far beyond the advertised targets.

Reason

Labour is talking about a wealth tax again – what are its options and what might work?

Labour Party leader Chris Hipkins recently revealed the party is looking once again at its tax policy, including a possible wealth tax or a “capital income tax” (CIT).

The Conversation

Project 2025: Will the rich ever pay tax again?

A little-known proposal in Project 2025, the Universal Savings Accounts (USA), means the next Bill Gates or Jeff Bezos will never get taxed.

Fortune

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Kiplinger

How Trump and Harris Might Handle Expiring TCJA Tax Cuts

Many key provisions of the TCJA will expire soon. Here’s why it matters during the 2024 election cycle.

The Independent UK

Montana Democrat Busse releases tax returns as he seeks a debate with Gov. Gianforte

Montana Democratic gubernatorial candidate Ryan Busse has provided 10 years of income tax records as he tries to goad Republican Gov. Greg Gianforte into debating him ahead of the November election

Kiplinger

A Look at Kamala Harris's Tax Plans Ahead of the Election

Under Harris's tax proposals, upper-income individuals would pay more taxes, while the middle class and lower-income people would pay less.

Kiplinger

A Look at Donald Trump's Tax Plans

We take a look at Donald Trump's tax plans and what they could mean for you. Here's what you need to know.

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International Business Times

Trump's Policies Could Add $5.8T To Deficit, Nearly 5X More Than Harris' Plan: Penn Wharton Study

Harris's plan, which includes expanding the Child Tax Credit, and Earned Income Tax Credit, is expected to raise deficits by $2.1 trillion over the next decade.

Reason

Kamala Harris' Plan To Hike Corporate Income Taxes Would Fall on All Americans

As with Trump and his tariffs, Harris appears unwilling to acknowledge the obvious consequences of hiking taxes on businesses.

Kiplinger

Can You Change an Irrevocable Trust? Yes, But Be Careful

When an irrevocable trust no longer makes sense, you're not stuck with it. You can modernize it, but you must follow the rules and consider the consequences.

Fortune

Harris and Trump's 'no taxes on tips' proposal is the rare idea that’s both unifying and unfair

Exempting yet more income from taxation would worsen a tax code that already treats people with the same level of income differently.

The Independent UK

Kentucky meets conditions for lawmakers to cut income tax in 2026

Republican lawmakers say Kentucky has met the financial conditions to set in motion another cut in the personal income tax rate that could take effect in 2026

The Street

IRS Form 3800: Calculating the general business credit

Form 3800 is used to calculate the General Business Credit, which helps small business owners cut their federal income tax bill.

Fortune

Jamie Dimon wants to hit millionaires with 'Buffett Rule' to tackle national debt

'The Buffett Rule' was coined after the Berkshire Hathaway CEO highlighted he pays the same percentage share of income tax as his secretary Debbie Bosanek.

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