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The Latest Breaking News from Income Tax

How The SALT Deduction Caps Squeezed Many Middle-Income Taxpayers

A single number — $10,000 — redrew the financial map for millions of households. When Congress passed the Tax Cuts and Jobs Act in late 2017, lawmakers lowered tax rates, nearly doubled the standard deduction, and promised broad relief. Yet one provision quietly shifted the ground under middle-income families in…

The Free Financial Advisor

How One Extra Dollar of Income Can Cost You Thousands in Retirement

Even modest changes in retirement income can raise Medicare premiums under IRMAA. Here’s how a small increase can affect your retirement costs.

Kiplinger

Is Your West Coast State Quietly Draining Your Wealth? 5 More Affordable States for West Coasters to Grow Wealth

For many Americans, living on the West Coast is a dream.

GOBankingRates

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I Asked ChatGPT for the Best Places To Live If I Want To Pay Less Taxes

From a financial standpoint, a lot goes into choosing a place to live, from home prices and living costs to how much you can expect to pay in taxes.

GOBankingRates

Georgia Income Tax Could Drop to 3.99% — Here’s Who Benefits Most

You work hard for every dollar, but it often feels like the state government is taking a bigger bite out of your paycheck than you can afford. Between inflation at the grocery store and rising costs everywhere else, you are looking for any relief you can find. There is a…

Budget and the Bees

6 States Shortening Tax Appeal Deadlines — Miss It and Your Refund Dispute May Be Closed

Tax refunds have become increasingly important for Americans’ financial health. Nearly half of the people in the United States rely on their refund to make...

Saving Advice

Am I Exempt From Federal Withholding? Do I Still Get a Refund?

If you're concerned about filing your taxes correctly, keep reading to find out what this tax exemption means and whether or not you qualify for it.

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U.S. Congress to End Emergency Tax Bill Over $6,000 Senior Deduction and Tip, Overtime Tax Breaks in D.C.

Here's how taxpayers can amend their already-filed income tax returns amid a potentially looming legal battle on Capitol Hill.

Kiplinger

The Little-Known Tool to Protect Your Retirement Savings in a Divorce

Learn why a divorce decree isn't enough to protect your retirement assets. You need a QDRO to divide the accounts to avoid paying penalties or income tax.

Kiplinger

Why Zohran Mamdani is threatening to soak the middle class if he can't tax the rich

New York City's mayor is warning of a 9.5% property tax hike if Gov. Kathy Hochul doesn’t raise income taxes on top earners.

Fortune

Washington's Millionaire Tax Is Economic Suicide

Washington has enjoyed decades of spectacular economic growth as a direct result of the absence of state income taxes. The new measure threatens to change all that.

Reason

Mamdani To Increase NYC Property Taxes by 9.5 Percent To Balance Budget if Income Taxes Are Not Raised

So much for "the warmth of collectivism."

Reason

'Racist tantrums’ in Texas? US-based entrepreneur asks Indians to exit state. But why

A US-based entrepreneur asked Indians to leave Texas and said that “racist tantrums” were not worth financial incentives such as the state’s lack of income tax.

The Times of India

Here’s How Much You’ll Owe in Taxes on Your Side Gig Income

Side gig income can be a great way to boost cash flow. But as a gig worker, you may be unaware that the money you make is fully taxable.

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I Asked ChatGPT How Much You Would Save If You Moved to a Zero-Tax State — Here’s the Math

Here's the math behind what you could save if you move to a zero-tax state (according to ChatGPT).

Budget and the Bees

Georgia Tax Proposal: Senate Leaders Push Long-Term Plan to Phase Out Income Tax

Checking your pay stub can feel like watching money drain through a crack in the floor. You work hard and do everything right, yet a chunk of your earnings disappears before it ever reaches your hands. It is no wonder so many Georgians feel squeezed by the rising cost of…

GOBankingRates

What $100,000 Salary Looks Like After Taxes In New York

While you won't suffer on a six-figure salary, the Empire State's high taxes and cost of living mean it won't buy you a life of luxury.

GOBankingRates

How To Reclaim Overpayments on Tips Today

The good news is that overpaid taxes are not lost. Here's how to reclaim overpayments on tips today.

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Euronews

Top personal income tax rates in Europe: Who pays the most in 2026?

In most European countries, people who earn more generally pay higher taxes. But top personal income tax rates for those in the highest brackets vary widely, with a clear divide between Northwestern and Eastern Europe.

GOBankingRates

How Much You’d Take Home Making $250K a Year If Trump Eliminates Income Taxes

President Donald Trump has proposed the elimination of the federal income tax. But what would that mean for your take-home pay if you make $250,000.

Fortune

Every U.S. Olympian was promised a $200,000 payout, but how much they actually keep depends on where they live

Olympians will get a post-tax income boost ranging from about $48,350 to $73,146, according to a Fortune analysis based on today’s tax rates.

Kiplinger

7 Bad Tax Habits to Kick Right Now

Ditch these seven common habits to sidestep IRS red flags for a smoother, faster 2026 income tax filing.

Kiplinger

Living in One State, Working in Another: How to Avoid a Tax Season Headache

Living and working in two states can take a heavy toll on your paycheck and give you a headache come tax time. Here's what to know.

Times Life

How Much Gold Can You Legally Keep at Home in India? What the Law Really Says

Gold in an Indian home is never just gold. It is a mother’s wedding bangles locked away for decades, a chain bought during a good harvest, a pair of earrings gifted quietly by a grandmother “for your future.” Yet the moment news breaks about an income-tax raid or gold seizure,…

Kiplinger

Ask the Editor, February 6: Questions on Federal Income Tax Deductions

In this week's Ask the Editor Q&A, Joy Taylor answers questions on federal income tax deductions

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