The Latest Breaking News from Income Tax

Rishi Sunak, trailing in the race to become the next U.K. prime minister, committed to reducing personal taxes by 20% within seven years in a move he described as the largest cut to income tax in three decades.

Rishi Sunak, trailing in the race to become Britain's next prime minister, has vowed to slash the basic rate of income tax by 20% by 2029 in a potentially make-or-break throw of the dice by the former finance minister.

Former chancellor says he will cut basic rate of income tax from 20p to 16p in the pound by the end of the next parliament if elected Tory leader

Former chancellor warns party members against ‘fantasy economics’, adding voting for Truss would be ‘self-sabotage’

The ex-Chancellor was accused of “jam tomorrow” by Liz Truss’ allies as he made the pledge if he enters Downing Street on September 5

The former chancellor, setting out his ‘radical tax vision’, faced renewed accusations of U-turning on tax.

The impact of inflation on federal income tax brackets and some other tax credits might not be all bad.

On July 22, the Idaho secretary of state announced that an initiative that would increase income tax and corporate tax rates to provide additional education funding had submitted the required number of signatures for the November ballot. 

Did you receive a payment or other property from an estate or trust during the year? If so, here's what you need to know about how it affects your taxes.

Chennai

In his message on the occasion of Income Tax Day, he said the tax department has reported the highest ever tax collection of ₹14.09 lakh crore