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The Latest Breaking News from Income Tax

Abolish the IRS—and the Income Tax Too

Americans spent an estimated $133 billion and 6.5 billion hours filing their tax returns in 2024.

Reason

Income Tax raids residence of CM Soren's alleged aide ahead of polls

The Income Tax department is conducting raids at the residence of Sunil Srivastava. Read further on Dynamite News:

Dynamite News

IRS Updates Capital Gains Tax Thresholds for 2025

For the 2025 tax year, the IRS has increased the capital gains tax income thresholds. Here's what you need to know.

Kiplinger

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

Earned Income Tax Credit (EITC) 2025: How Much Will You Get?

The refundable amount for workers with or without children is slightly higher this year. Here’s what you need to know.

Kiplinger

Bus fare hike same as 1p income tax rise on working people who commute - new analysis

The Department for Transport has disputed claims that the 50 per cent rise in the cap on a single bus ticket equates to a 1p rise in income tax

The Independent UK

Broken system lets big business off tax hook: institute

Major corporations that pay no company income tax are taking advantage of a broken system that needs government intervention, a think tank says.

AAP

Qantas, Virgin, Netflix and Canva among 1,200 major companies that paid no income tax in Australia in 2022-23

ATO finds 31% of large businesses reported nil tax paid as many companies deducted losses and used offsets to dial their bills down to zero

The Guardian - AU

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Miners dominate company tax list as others pay zero

A corporate income tax haul of almost $100 billion is being hailed as a "great result" but almost a third of major Australian companies avoided a tax bill.

AAP

What budget 2024 means for your personal finances

How Rachel Reeves’s measures on pensions, income tax, stamp duty and fuel duty will affect UK consumers

The Guardian - UK

Housing, tax rises, train fares and pub pints: What Rachel Reeves' Budget means for Londoners

There was good news for London transport, with the Chancellor committing £485million for TfL’s capital renewals programme and confirming HS2 will go to Euston

Evening Standard

Don't Miss Your Colorado TABOR Refund When Filing Taxes

Are you receiving a TABOR refund with your 2024 Colorado state income tax return? Be sure to opt in or you could miss out.

Kiplinger

2025 Tax Deduction Change for Those Over Age 65

Adjustments to the extra standard deduction can impact the tax bills of millions of older adults.

Kiplinger

Fact check: The proportion of adults paying income tax has risen since 2014

In the 2014-15 fiscal year around 30.7 million people paid income tax, and this reached 37.4 million a decade later.

Evening Standard

A history of the SNP's pledge to reform council tax

THE SNP first pledged to reform council tax before they even came into government in 2007. So, what happened since then?

The National (Scotland)

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news in one place.

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Evening Standard

Budget 2024: Keir Starmer hit with growing row over billions in tax rises 'breaking' Labour manifesto

Cabinet minister Pat McFadden denies Labour ‘misled’ voters during the election campaign

Fortune

Trump tells Joe Rogan he supports getting rid of income taxes and instead relying on tariffs—‘Yeah, sure, but why not?’

Trump has also teased eliminating taxes on tips, overtime pay, and Social Security payments, as well as exemptions for the military, veterans, and first responders.

Kiplinger

Harris vs. Trump's Tax Wish List: Income Tax, Capital Gains, Estate Tax and More

Take a comprehensive look at Harris and Trump's tax proposals. We cover income tax rates, tax credits and deductions, capital gains tax, estate tax, corporate tax and much more

Reason

Where Is Trump's Plan To Cut Spending?

The former president says the government should be funded like it was in 1890. So where's the plan to reset spending to 1890s levels?

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news in one place.

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One news app.

The National (Scotland)

BBC apologises after SNP hit out at 'false claim' on Scottish income tax

THE SNP have accused BBC Scotland of failing to “grasp the basics of the Scottish income tax system” after a “false claim” on one of its…

Kiplinger

2025 Family Tax Credits: Four IRS Changes That Can Save You Money

Explore the new IRS-adjusted amounts for popular family tax credits.

Kiplinger

The 2025 Standard Deduction Is Here

What is the standard deduction for your filing status in 2025?

Kiplinger

New 2025 Income Tax Brackets Are Set

The IRS has adjusted federal income tax bracket ranges for the 2025 tax year to account for inflation. Here's what you need to know now.

The Guardian - UK

Reeves’ income tax plan will hurt working people and increase inequality even more

Letters: Su Hardman on the news that the chancellor is expected to extend the freeze on income tax thresholds in the budget. Plus letters from Patrick Donovan, Prof Mike Stein and Michael Meadowcroft on Labour’s tax plans

The Independent UK

When is the Budget and what is the ‘stealth’ tax rise Labour are set to keep?

Millions could pay more income tax if ‘stealth’ policy is continued

The Independent UK

Workers set for income tax hike as Rachel Reeves ‘to extend freeze on thresholds’

Conservatives have accused Keir Starmer and Rachel Reeves of preparing to break a manifesto pledge

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