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The Latest Breaking News from Income Tax

Trump's Tax Plans: Good, Bad, Ugly?

Plus: Trump endorses Larry Hogan, violent crime decreases, and more...

Reason

Trump Wants To Exempt Tips From Income Taxes. Why Stop There?

Reducing revenue without identifying offsetting spending cuts means Trump is merely promising to borrow more heavily.

Reason

Three IRS Tax Deadlines for June 17

There are some important June IRS tax deadlines you shouldn’t overlook.

Kiplinger

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

Tories’ promises to raise tax threshold for pensioners a joke, Labour says

During a visit to Essex, shadow pensions secretary Liz Kendall claimed the Conservatives have worsened the quality of retirement.

The Independent UK

The Return of Trickle-Down Economics

In Kansas, Mississippi and other states, tax cuts for the wealthy could bring devastating reductions to education, health and other vital programs.

Capital & Main

The Conservatives are pledging a ‘triple lock plus’ for UK pensioners – here’s what it means

If re-elected, the Conservatives have pledged to introduce a “triple lock plus” that the party says would pull “millions” of pensioners out of paying tax. Their plan would ensure that pensioners’ tax-free personal allowance rises each year in line with the state pension.

The Conversation

Fiscal tussle: who will win the battle to put up taxes the least?

The Conservatives and Labour are embroiled in a fight to woo voters with promises to keep rates of tax low

The Guardian - UK

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Six-year income tax threshold squeeze to last until 2028, says UK chancellor

Jeremy Hunt clashes with BBC presenter over linking increased mortgage rates to Liz Truss mini-budget

The Guardian - UK

Stealth tax on income will stay until 2028 if Conservatives are re-elected, admits Jeremy Hunt

The Chancellor clashes with Labour’s Rachel Reeves over VAT

Evening Standard

No decision taken on barring Diane Abbott from selection as Labour candidate, says Keir Starmer – as it happened

It comes after former Labour leader Jeremy Corbyn said the party’s treatment of Abbott was ‘a disgrace’

The Guardian - UK

Suddenly, there’s talk about Labor reforming company tax. What did minister Ed Husic say, and what might actually work?

When politicians talk about business tax reform, and talk about using it to stimulate investment, they are usually referring to one of (or a mix of) three things:

The Conversation

Tax cuts and tourist fees in NZ budget 'clean-up job'

Income tax relief for Kiwis and higher fees for tourists have been revealed in the first budget of New Zealand's coalition government.

AAP

Link your PAN with Aadhaar by May 31 to avoid higher TDS deduction

As per income tax rules, if a Permanent Account Number (PAN) is not linked with biometric Aadhaar, TDS is required to be deducted at double the applicable rate. Read further on Dynamite News:

Dynamite News

Minister says Tories will pay for pensions policy by clamping down on tax avoidance

Mel Stride says pensioners will pay more income tax under Labour as critics say plan is merely reversal of previous Tory policy

The Guardian - UK

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The Independent UK

Pensioners would get a £2.4bn income tax break under the Tories, Sunak to vow

The new ‘triple lock plus’ would ensure pensioners’ tax free allowance rises in line with the highest of earnings, wages or 2.5%.

The Guardian - UK

Starmer to say he’s ‘changed’ Labour as party rules out raising income tax or NI

Leader targets swing voters in Kent and Essex while shadow chancellor makes vow on taxes and spending

Evening Standard

Labour vows no rise in income tax if it wins next election

Rachel Reeves vows no national insurance or income tax hikes if party wins election

The Guardian - UK

Rachel Reeves says Labour would not return country to austerity

Shadow chancellor rules out income tax and national insurance rises and says manifesto will have no unfunded proposals

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news in one place.

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Evening Standard

Reeves: No income tax or national insurance rises if Labour win General Election

The shadow chancellor also failed to rule out public spending cuts when challenged on her plans.

Dynamite News

Income Tax seize Rs 26 crore cash after raids against Nashik-based jewellers

The Income Tax Department has launched searches on Maharashtra's Nashik-based Surana Jewellers in response to alleged undisclosed transactions by its proprietor. Read further on Dynamite News:

The Street

What is bracket creep?

When you earn more money, bracket creep can push you into a higher tax bracket. This could reduce your actual income due to increased tax liability.

Kiplinger

Medicare Tax: Five Things Every Worker Needs to Know

It's important to know how Medicare tax works.

The Hindu

Income Tax Department officer duped of ₹48.9K in online reward points fraud

A 48-year-old IRS officer with the Income Tax Department lost ₹48,902 to an online reward points fraud.

The Hindu

No data loss due to fire at CR building: I-T dept

Income tax department confirms no data loss in fire at CR Building, ITO; mourns loss of official.

The Hindu

Marithibbe Gowda declares personal assets worth ₹4.28 crore

Marithibbe Gowda, a four-time MLC seeking re-election, declares assets worth ₹4.28 crore, with no income tax returns filed.

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