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The Latest Breaking News from Income Tax

Labor Party to Debate Petition Demanding Major Raise of Personal Income Allowance

The Labor Party government is set to debate a petition calling for a significant increase in the income tax personal allowance—from the current £12,570 to £20,000.

The Fashion Central

Trusts for Child Influencers: What Families Need to Know

As video blogging, or vlogging, gains popularity (and profitability), new laws are shaping financial obligations for caregivers of young creators.

Kiplinger

IRS Tax Refund Schedule 2026: When Will Your Refund Arrive?

Here's how to check your IRS tax refund status and when you can expect your federal refund.

Kiplinger

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IRS Tax Refunds Are $1,000 Smaller This Year: Here's Why

Kiplinger

Defeat them in Delhi elections, GST will be half on all goods: Kejriwal takes dig at BJP-led Centre

Aam Aadmi Party (AAP) national convenor Arvind Kejriwal on Monday took a dig at the BJP-led Central government over the Union Budget 2025 saying that as soon as people gave them fewer seats, they promptly changed the income tax regime. Read further on Dynamite News.

Dynamite News

States That Won't Tax Your Retirement Income in 2026

Several states don’t tax Social Security benefits, 401(k)s, IRAs, and pensions. But you may still have to pay state taxes on some incomes.

Kiplinger

"A band-aid for bullet wounds, government bankrupt of ideas": Rahul Gandhi slams union budget

Congress leaders have slammed the budget. "A band-aid for bullet wounds! Amid global uncertainty, solving our economic crisis demanded a paradigm shift. Read further on Dynamite News:

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To benefit from income tax relief, you need jobs: Shashi Tharoor takes dig at Budget highlight

During Finance Minister Nirmala Sitharaman Union Budget 2025 speech, announced that no income tax will be payable on income up to Rs 12 lakh, providing significant relief to taxpayers, especially the middle class. Read further on Dynamite News:

Dynamite News

Modi government slashes income tax for middle classes in India budget

Narendra Modi’s government has presented an annual budget that focuses on wooing the salaried middle class with tax cuts and spurring economic growth by boosting agriculture and manufacturing

The Independent UK

Budget 2025: No tax up to income of Rs 12 lakh, announces FM Nirmala Sitharaman

In major relief for middle class, Nirmala Sitharaman announced that no income tax would be payable up to income of Rs 12 lakh. A must read on Dynamite News

Dynamite News

Budget 2025: New Income Tax Bill to be presented next week, says FM

In her budget speech for 2025, Finance Minister Nirmala Sitharaman made a major announcement on Income Tax. Read further on Dynamite News:

Dynamite News

Sophisticated Planning With Flexible Irrevocable Trusts

A flexible irrevocable trust can minimize taxes on capital gains, ordinary income, estate tax and property tax.

Kiplinger

Five States With the Largest EITC Checks

Households in these states received a larger Earned Income Tax Credit (EITC) last year.

Kiplinger

The Reporters’ Collective non-profit status revoked: What lies ahead for other media orgs?

With Indian tax authorities revoking the non-profit status of investigative news outlet The Reporters’ Collective, press outfits and experts on tax disputes have expressed concerns about the financial sustainability of news outlets that could face similar action.

Newslaundry

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Kiplinger

‘Back to the Old Days’? What’s Wrong With Trump’s Plan to Abolish Income Tax

The likelihood of Trump eliminating income tax and the IRS remains low, but the ongoing debate highlights the need for tax reform.

Dynamite News

Kejriwal urges PM Modi to enact law to prevent loan waiver for billionaires

Kejriwal claimed that if the loan waivers of the billionaires are "stopped", then the income tax and GST rates on several items can be halved. Read further on Dynamite News:

Kiplinger

Ease the Tax Bite When You Tap Retirement Accounts

Savvy retirees tap retirement accounts with a tax plan. Each type of account may have different tax rules and rates, so know before withdrawing funds.

Kiplinger

Tax Season 2025 Is Here: Key IRS Changes to Know Before You File

Tax deductions, tax credit amounts, and some tax laws have changed since you filed your last federal income tax return.

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Newslaundry

Tax memes target Nirmala, but who’s the real villain here?

The term meme was coined by the British evolutionary biologist Richard Dawkins in his 1976 book The Selfish Gene. In this book Dawkins defined a meme as: “A noun that conveys the idea of a unit of cultural transmission… Examples of memes are tunes, ideas, catch-phrases, clothes fashions, ways of…

Reason

Americans Continue Migrating From High-Tax to Low-Tax States

Increasing mobility and remote work make taxes an important consideration in where to live.

Kiplinger

Not Ready to File Taxes? 8 Things to Do Now to Prepare

Now is a good time to review your financial situation and prepare to file your 2025 federal income tax return.

Reason

Athletes Find New Way To Avoid Taxes

Restructured contracts may help franchises who have a certain competitive disadvantage.

Kiplinger

5 Ways the Second Trump Term Could Affect Your Finances

Income tax cuts are likely to be extended, but electric vehicle tax credits could disappear.

Kiplinger

State Tax Changes for 2025: Key Reforms and What They Mean for Your Finances

It’s important to stay informed of state tax changes that can impact your budget.

Reason

Jimmy Carter's Gift to Hollywood Was No Gift to Georgia Taxpayers

He set a process in motion that led to the state's wasteful and expensive film tax credits.

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