Tag: tax
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Battleground state election lawsuits and IRS raises income tax brackets: Morning Rundown
Dozens of election lawsuits have been filed in critical battleground states. Four new cases of bird flu in humans have been announced in Washington state. And fans criticize the backlash directed at Liam Payne’s ex-fiancée in the aftermath of the singer’s death. Here’s what to know today. Battleground states flooded with voting lawsuits Megan Varner…
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IRS announces new federal income tax brackets for 2025
The IRS has announced new federal income tax brackets and standard deductions for 2025. In its announcement on Tuesday, the agency raised the income thresholds for each bracket, which applies to tax year 2025 for returns filed in 2026. The top rate of 37% applies to individuals with taxable income above $626,350 and married couples filing jointly earning $751,600…
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Mark Cuban speaks out against piece of Harris’ tax plan while campaigning for her
PHOENIX — Billionaire entrepreneur Mark Cuban said Saturday while campaigning for Vice President Kamala Harris that he would campaign against her if he thought she would tax wealthy people’s “unrealized gains,” which is part of the tax plan she has endorsed. The comments came at a town hall event attended by local Arizona entrepreneurs, which …
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Social Security payroll tax limit increases for 2025. Here’s how that may affect you
In 2025, millions of retired Americans will see a 2.5% cost-of-living adjustment for benefit payments, according to the Social Security Administration. But a lesser-known tax change will also impact higher-income workers. The Social Security Administration on Oct. 10 unveiled a higher threshold for earnings subject to Social Security payroll taxes, known as the “taxable maximum” or “wage base.” The limit shifts annually…
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GOP senator eyes health care overhaul and extending Trump tax cuts in one big 2025 bill
As Donald Trump calls for overhauling the Affordable Care Act with a new health care system, one Republican senator running for an influential leadership position says the party should combine that pursuit with a major tax bill in the new year. Sen. Tom Cotton, R-Ark., told NBC News after the vice presidential debate in New…
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Harris calls Trump’s tariff proposals a ‘sales tax on the American people’
WASHINGTON — Vice President Kamala Harris called former President Donald Trump’s tariff proposals “a sales tax on the American people,” in an interview with MSNBC’s Stephanie Ruhle. President Joe Biden has also backed certain tariffs and done little to roll back ones Trump put into place while president, but Harris emphasized that tariffs should not…
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Trump calls for undoing part of his own tax law, vowing to ‘get SALT back’
WASHINGTON — Donald Trump called for rolling back part of his signature tax law Tuesday, suggesting he would seek to reinstate the state and local tax deduction, commonly known as SALT, that he controversially capped in the 2017 legislation. In a Truth Social post ahead of his trip to New York’s Long Island, the former…