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The Latest Breaking News from Income Tax

States feel budget pinch amid darkening revenue projections

After two years of record tax collections, budget writers in some states are starting to feel a revenue pinch created by a slumping stock market, banking and tech layoffs, slower consumer spending and lower energy prices.

Tribune News Service

People urged to check take-home pay this month for tax code error and higher deductions

The new financial year has started which means every worker should check their next payslip.

Daily Record

Rishi Sunak plotting autumn 2024 election ‘after income tax cut’

Tories keen for voters to feel ‘more money in their pockets’ before going to polls

The Independent UK

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Treasurer defends phase out of low income tax relief

A tax offset offered to low and middle income earners over the last three years is being axed, with the Albanese government saying it is no longer affordable.

AAP

Who are the best pro golfers in Las Vegas? Here’s our top 10.

LAS VEGAS — Las Vegas has become home to professional golfers drawn to the area’s great weather, excellent courses, dining and entertainment options, easy access to and from tournaments and lack of state income tax.

Tribune News Service

The seven money changes now in place as new tax year starts

Thursday, April 6, is the start of the 2023/24 tax year

Wales Online

Are Roth IRAs Really as Great as They’re Cracked Up to Be?

While a Roth IRA is an excellent tax strategy, that doesn’t mean you should underestimate the benefits of a traditional tax-deferred retirement account.

Kiplinger

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7 money changes kicking in TODAY as new tax year begins - including pension rules

The new tax year begins today and with it comes a whole series of adjusted money rules and changes, affecting everything from your pension to how much you pay in tax if you're a high earner

Daily Mirror

Scots urged to check first payslip after start of new financial year for tax code error

The 2023/24 financial year started on April 6 and could affect your take-home pay.

Daily Record

Higher earners in Scotland to pay more tax from today as new laws come into force

With the beginning of the new financial year, the tax changes, which ministers have claimed would raise an extra £129 million in 2023-24, laid out in the budget have come to fruition.

Edinburgh Live

New financial year heralds Scottish income tax changes

Scottish Government states that the move will raise an additional £500m for public services

Insider UK

America only had a handful of billionaires 40 years ago. We’re now creating ‘centibillionaires’–and unless we tax them, trillionaires

Taxing income from wealth at the same rate as income from work would be a critical step in the right direction.

Fortune

How to make $100,000 or more and pay no income taxes

Yes, it’s entirely possible to make more than $100,000 and pay no federal income tax on it, and this article will show you exactly what you need to do to claim your tax-free cash. It’s completely legal – and incredibly! – the tax code almost seems to encourage you to…

Tribune News Service

5 ways to lower your tax bill - as millions set to pay more after Jeremy Hunt stealth raid

There are things you can do to help you reduce your tax burden and be more tax-efficient with your money - here are some tips from Bestinvest personal finance analyst Alice Haine

Daily Mirror

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Daily Record

State Pension payment increase next week could see more people in retirement pay tax

The full new State Pension is set to rise to £10,600 per year and £8,122 for those on the Basic State pension.

The Independent UK

How higher earners can sidestep Jeremy Hunt’s tax ‘sinkhole’

Chancellor’s changes coming into play with new financial year

Tribune News Service

Crowd support has Gordon Hayward, Hornets excited: ‘I think they can see the potential we have’

CHARLOTTE, N.C. — Even with all the struggles and an injury list that rivals the length of an income tax form, the patrons haven’t stop showing up at the Spectrum Center during the past few months.

The Independent UK

Frozen taxes set to raise £25bn by 2027-28, says think tank

High inflation has pushed up the projected revenue take from the Government’s personal tax threshold freeze, the Resolution Foundation said.

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news in one place.

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Daily Mirror

End of tax year: 7 things to check NOW that affect everything from savings to pensions

Unlike the traditional calendar year, the tax year doesn’t run from January to December - instead, it always starts on April 6 and ends on April 5 the following year

Daily Record

Finance expert warns some working people could pay more tax from next month

The freeze on income tax thresholds could see high-earners paying more tax on their salary.

Evening Standard

How much can you earn before paying tax? Personal tax allowance rates explained

As a new tax year looms we look at income tax rates and personal allowances. Are there any tax breaks you could claim?

The National (Scotland)

Gary Lineker wins £4.9 million income tax battle with UK Government

BBC presenter Gary Lineker has won a £4.9 million tax battle with the UK Government ...

The Week

Taxing times: the tax changes coming in April 2023

Major changes are coming to tax bills from April that could mean “millions of households will be worse off”, said The Sun.

Fortune

How to get a bigger 2022 tax refund from the IRS

There are still a few moves you can make to maximize your federal income tax refund.

Chronicle Live

All the money changes coming in April - from DWP cost of living payments to rise in bills

People can expect to see changes to benefit payments, income tax, council tax, wages and mobile bills amongst other things

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