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The Latest Breaking News from Income Tax

In 2022, the IRS Went After the Very Poorest Taxpayers

Despite $80 billion in new funding, the agency is living up to its reputation of hassling low-income taxpayers over rich people.

Reason

Plan to cut income tax again advances out of Kentucky House

WEKU

Tax cuts, maybe medical cannabis: what’s in store for the 2023 Ky. General Assembly

WEKU

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Reform UK to field candidate against every Tory at next election, says leader

Richard Tice rules out 2019-style deal with Conservatives even if they back some of his party’s policies

The Guardian - UK

Financial expert warns people could end up paying more tax from April

The freeze on income tax thresholds could see some people paying more tax on their salary.

Daily Record

UK Government urged to levy wealth tax in 2023 to tackle cost of living crisis

THE UK Government is being urged to make 2023 the year they levy a wealth tax against the super-rich and use the revenue to support those…

The National (Scotland)

Social service advocates are seeking a stop to further income tax reductions

Close to 30 organizations are calling upon the Kentucky General Assembly to put a pause on further reductions in the state income tax rate. It fell a half percentage point January first. On day one of the legislative session, speakers expressed concerns that future scheduled cuts could mean less state…

WEKU

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New tax brackets and other IRS changes can boost paychecks, lower taxes

Yearly changes made by the IRS can have a significant impact in the era of high inflation.

Axios

Social welfare increases 2023: Big change in payments to recipients as Budget measures take effect

The Department of Social Protection budget allocation is €23.4 billion in 2023

Irish Mirror

Big write-offs, Tax-cut perks: Key takeaways from Donald Trump’s tax returns

WASHINGTON: Massive losses and large tax deductions in Donald Trump’s returns reveal how the former president was able to use the tax code to minimize his income tax payments.

The Times of India

Big write-offs, tax-cut perks: Key takeaways from Trump’s tax returns

WASHINGTON — Massive losses and large tax deductions in Donald Trump’s returns reveal how the former president was able to use the tax code to minimize his income tax payments.

Tribune News Service

Future of State Pension Triple Lock rule is 'difficult decision’ for UK Government, warns money expert

There is also speculation that the State Pension age could increase a decade earlier than planned.

Daily Record

The Budget money changes that come into effect in January for social welfare recipients and workers

The weekly rate for a qualified child will increase by €2 from €40 to €42 for children under 12 years of age. It will increase by €2 from €48 to €50 for children aged 12 years and over (January 2023)

Irish Mirror

New lower tax rate of just 30 per cent to be considered by Government

“We want to help people somewhat with the cost of living, certainly," Varadkar said

Dublin Live

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Salon

Trump’s brazen tax cheating revealed

That Trump persisted in using the same fraudulent technique in 6 years of recent tax returns is evidence of intent

Wales Online

Mark Drakeford explains his plans for income tax in Wales after admitting he has seriously considered increasing it

The First Minister asked Westminster for tax raising powers, but said he won't be using them soon

Daily Mirror

Rishi Sunak's stealth tax to cost an average-earning couple £8,000 in a decade

Two 'median earners' on £33k will be £8,000 worse off by 2031 compared to if income tax thresholds had risen by inflation - meaning nurses and teachers are badly hit by Rishi Sunak's policy

ABC News

The Loop: January 6 committee delays releasing final report, Zelenskyy and Biden meet, and H&M pulls Justin Bieber collection — as it happened

The news Australia is searching for, and all the news that happened while you snoozed: This is The Loop, your quick catch-up for this morning's stories as they happen.

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Nottingham Post

HMRC issues update for those paying income tax ahead of new mandatory software

The Government is giving people more time to prepare for changes

The Times of India

Famous Punjabi singers Ranjeet Bawa, Kanwar Grewal raided by IT dept

LUDHIANA: In a sensational development, Jalandhar based investigation wing of Income Tax department on Monday raided renowned Punjabi singers Ranjit Bawa and Kanwar Grewal.

The New Daily

Ask the Expert: How to take advantage of salary sacrifice

One of the big advantages of salary sacrifice is that the more you do it, the more income tax is saved, so you can then afford to do more.

The Independent UK

Rishi Sunak’s £150bn ‘stealth tax raid’ will cost families £5,000 each

Exclusive: Labour analysis of OBR forecasts reveals staggering cost of tax squeeze until 2028

WEKU

GOP lawmakers discuss medical cannabis, taxes and abortion ahead of 2023 session

The National (Scotland)

Tories 'put Unionism before the NHS' with attack on Budget tax rises

SCOTLAND’S struggling health services cannot improve without tax increases for higher earners, the Health Secretary has said, as he claimed…

The National (Scotland)

Economists, charities, and everyone else: How Scotland reacted to the Budget

THE Scottish Government has laid out its Budget for 2023-2024 in a heated Holyrood session which saw accusations of leaking to the media fly…

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