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The Latest Breaking News from Income Tax

I-T dept cracked down on non-profits with a law that didn’t apply. Tribunals kept saying no

Imagine being fined for jumping a red light – on a road where the traffic light was installed only after you drove past. That, in essence, is what India’s Income Tax Department has been doing to dozens of non-profit organisations across the country.

Newslaundry

I Asked ChatGPT How Much the Top 1% Would Pay If Taxed at the Same Effective Rate as the Lower 75%

ChatGPT revealed what would happen if the top 1% paid taxes at the same rate as lower earners. The answer isn't what most people expect about tax fairness.

GOBankingRates

Top 7 Best Payroll Software in Thailand (2026)

Managing payroll in Thailand is far more complex than simply calculating monthly salaries. Businesses must navigate a detailed regulatory framework that includes personal income tax (PND1), Social Security Fund (SSF) contributions, provident fund deductions, and strict labor law compliance.

inkl

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Budget reconciliation bill to target ‘fraud’ in means-tested programs, chairman says

House Budget Chairman Jodey C. Arrington offered details on what a budget reconciliation bill could look like Friday, outlining an agenda that includes targeting fraud in the earned income tax credit program and finding savings in other means-tested benefit programs. Arrington, R-Texas, and Senate Budget Chairman Lindsey Graham, R-S.C., have…

Roll Call

I Asked ChatGPT If There Are Good Tax Breaks for Lower-Income Americans: Here’s What It Said

From the Earned Income Tax Credit to the Child Tax Credit, see key tax breaks low-income filers can use in 2026 to boost refunds or lower their tax bill.

GOBankingRates

How Taxes Are Reshaping Where Americans Live and Work

Increasing income taxes almost always results in less revenue and less economic activity.

Reason

When Starting a Business, the End Is a Very Good Place to Start

It may seem crazy to start a business with the end in mind, but thinking about your exit first will have tax benefits and ease crisis management down the line.

Kiplinger

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4 States That Don’t Tax Retirement Distributions

You'll have less math to do when it comes to income tax rates or required minimum distributions for such retirement accounts as a simple IRA or 401(k).

GOBankingRates

Tax-Free Income in 2026? These Changes Could Wipe Out Your Federal Bill

New legislation aims to exempt up to $92,000 in earnings from federal income tax. Here's who would win.

Kiplinger

A Rare Moment in Family Tax Planning Has Arrived: 3 Ways to Seize It

The tax landscape has stabilized, giving wealthy families an opportunity to move away from reactive decision-making and redirect their attention toward planning.

Kiplinger

Tennessee’s Sales Tax Structure — Understanding the Trade-Off

No income tax sounds like a dream, right? That headline grabs attention fast, but the real story lives in the fine print where every purchase quietly tells the truth. Tennessee built a tax system that flips the usual script, and that choice creates a trade-off that shapes everyday life in…

The Free Financial Advisor

Side hustles: what you need to know about paying tax in the UK

Whether it’s buying and selling clothes online or some freelance work on the side, plan ahead for potential tax issues

The Guardian - UK

5 Reasons Your Tax Refund Might Be Delayed and How to Fix It

Is your IRS refund taking forever? From filing errors to identity verification, here are five reasons for a tax refund delay, and what you can do today.

Kiplinger

Local leaders to be given powers to choose how some income tax is spent, Reeves announces

Treasury officials asked to draw up a roadmap for measures to be published at the Budget

The Independent UK

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Reason

Washington State Just Passed a 9.9% Income Tax on Those Making $1 Million

The new tax “is probably one of the biggest changes in Washington state political history since our founding,” says one state representative.

The Independent UK

Inside the widening income tax rate gap for residents in blue states compared to red states

Experts say eliminating a state’s personal income tax does not mean a more affordable lifestyle

The Guardian - UK

First Thing: Trump steps up pressure on European allies to help protect strait of Hormuz

US president says it is ‘only appropriate’ for Europe to help, and warns failure to do so would be ‘very bad’ for Nato. Plus, meet the Americans withholding their federal income tax

Fortune

After 93 years and a 25-hour filibuster, Washington finally has an income tax, and billionaires are already packing their bags

Howard Schultz is heading to Miami. Jeff Bezos left in 2023. Now Washington's new 9.9% millionaires tax is testing whether the state's wealthiest residents see their home as more than a line on a tax return.

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Kiplinger

Can You Afford Retirement in Greece? 3 Tax Benefits Make It Possible

Affordable luxury in the Mediterranean may be closer than you think. Here's how.

Kiplinger

Inherited Money or Property? What You Need to Know Before Filing Your Taxes

Inheriting assets comes with various tax considerations. Here's a guide on everything you need to know, from estate taxes to new rules on inherited IRAs.

Fortune

Ex-presidential candidate Andrew Yang says it's time to 'stop taxing labor' and make AI foot the bill instead

Andrew Yang said on CNBC the U.S. shouldn’t tax something like labor in the age of AI.

Reason

Tax the Rich All You Want. It Won't Fix the Deficit.

The problem is not that the government collects too little. It's that the government spends too much.

International Business Times

Starbucks Founder to Flee Washington With $3.5B Fortune After State Passes Millionaires Tax

The founder of Starbucks announced he was moving to Florida just as Washington state Democrats voted to create the state's first income tax, targeting those who make more than $1 million a year.

International Business Times UK

Starbucks Billionaire Howard Schultz Leaves Seattle for Florida the Same Day Democrats Pass Income Tax Bill

Starbucks founder Howard Schultz decided to move to Miami from Seattle after Democrats passed an income tax bill for Washington to levy a 9.9% tax on households earnings $1 million annually.

AAP

'Be bold': Spender urges income tax shake-up in budget

Australia's tax system needs to be rebalanced towards effort and ingenuity, independent MP Allegra Spender said as she launched her tax reform blueprint.

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