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The Latest Breaking News from Income Tax

American states once awash in cash see their fortunes suddenly reversed

California Governor Gavin Newsom for years had an enviable problem. His state was awash in cash.

Tribune News Service

Taxpayers urged not to claim fraudulent returns, file revisions in case of wrong claims made

People found indulging in tax malpractice can face penalty up to 200% of disputed amount apart from imprisonment, says Principal Chief Commissioner of Income Tax (Andhra Pradesh and Telangana) Mitali Madhusmita

The Hindu

Budget reconciliation will see Scottish Government funding fall by £390 million

Public finance minister says he continues to press the UK Government for greater borrowing powers

Insider UK

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IT department cancels Centre for Policy Research’s tax exemption status: Report

The Income Tax department has revoked the tax exemption status granted to the Centre for Policy Research, the Hindu reported yesterday.

Newslaundry

Centre for Policy Research loses tax exemption status

The Income Tax Department has cancelled the tax exemption status of the Centre for Policy Research

The Hindu

What are the main U-turns Labour has made under Keir Starmer?

From abolishing tuition fees to raising income tax for top earners, several pledges have been reversed

The Guardian - UK

Will Pennsylvania Tax Breaks Help Replace Lost Residents?

Proposed Pennsylvania tax breaks could result in big tax cuts, but if the tax breaks happen, will they be enough to help Pennsylvania replace the 40,000 residents it lost?

Kiplinger

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Big biz on Net comes with riders

The arrest of YouTuber Thoppi has shone the limelight on social media influencers.

The Hindu

8.5m people aged 65 and over are income tax payers

The knock-on-impact of high inflation and frozen tax allowances may have pushed more people aged 65 and over into paying tax, experts suggested.

The Independent UK

Three groups of people who can get their hands on €500 yearly cash boost

The Rent Tax Credit was introduced last year and it allows people who pay income tax to reduce their tax

Irish Mirror

Former Connecticut Gov. and US Sen. Lowell P. Weicker dies at 92

HARTFORD, Conn. — Former Connecticut Gov. Lowell Palmer Weicker Jr., a larger-than-life former U.S. senator and governor who helped create the state income tax while becoming one of the most dominant figures in Connecticut politics for decades, died Wednesday after a short illness, his family confirmed.

Tribune News Service

Joe Biden’s son Hunter charged with failing to pay income tax and illegally having weapon

It is understood he will plead guilty to misdemeanour tax offences and reach an agreement with prosecutors on the felony charge of illegally possessing a firearm

Manchester Evening News

Hunter Biden charged with failing to pay tax, gun crime

US President Joe Biden's son Hunter has been charged with failing to pay federal income tax and illegally possessing a weapon.

The New Daily

Hunter Biden plea deal: Republicans hit out at US president’s son over minor federal charges – as it happened

Hunter Biden will plead guilty to wilful failure to pay income tax; Kevin McCarthy and other Republicans speak out against plea deal

The Guardian - US

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Chicago Sun-Times

Hunter Biden will plead guilty in a deal that likely avoids time behind bars in a tax and gun case

Hunter Biden, 52, will plead guilty to the misdemeanor tax offenses as part of an agreement made public Tuesday.

The Independent UK

Hunter Biden charged with failing to pay federal income tax and illegally having a weapon

President Joe Biden’s son Hunter has been charged with failing to pay federal income tax and illegally possessing a weapon and has reached an agreement with the Justice Department

The Hindu

Power games: the anatomy of an arrest

Minister V. Senthilbalaji was questioned for 18 hours by the ED and when he complained of chest pain, was initially admitted to the Tamil Nadu Government Multi Super Speciality Hospital at Omandurar Government Estate in Chennai. He was later shifted to a private hospital in Chennai

Irish Mirror

650,000 people owed an average of €624 each in refund from Revenue

Revenue revealed that hundreds of thousands of extra people submitted an income tax return last year than the previous one

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Kiplinger

Who Benefits From the Connecticut Tax Relief Bill?

A Connecticut tax relief package was signed into law this month. Here’s what’s included and who the tax changes might benefit.

Daily Record

New calls for income tax on State Pension to be scrapped to stop 'penalising' people in retirement

The freezing of the Personal Allowance at £12,570 could see more pensioners paying tax this year.

Kiplinger

Montana Tax Rebate Checks Up to $2,500 Coming in July

Montana tax rebate checks go out in July. Here’s how to find out if you are eligible for a payment — and how much you might get.

Daily Record

New proposal to allow people to pay mortgage through their wages before tax deductions rejected

An online petition calling for the ‘salary sacrifice’ has received more than 25,2300 signatures of support.

The Independent UK

Revealed: ‘Stealth tax raid’ to hit almost 5m healthcare workers with higher bills

Exclusive: The government’s decision to freeze income tax and national insurance thresholds will cost health workers an additional £1.5billion per year, analysis shows

The Hindu

Families paying income tax or filing GST out of the ambit of ‘Gruha Lakshmi’

The Karnataka government on Tuesday issued guidelines for the Gruha Lakshmi scheme (monthly financial assistance of ₹2,000 for women), for the benefit of women who are identified as heads of families in Antyodaya, BPL or APL cards of the household. Among the eligibility criteria is that the woman or her…

The Conversation

As the U.S. expands work conditions for income assistance, Canada takes a different tack

Only days before a government default, United States President Joe Biden and House Speaker Kevin McCarthy reached an agreement to raise the country’s debt ceiling and avoid financial turmoil.

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