Tax

Minnesotans will avoid inflation-related tax sting with huge bracket adjustment

Minnesotans will avoid inflation-related tax sting with huge bracket adjustment

High inflation has led state and federal authorities to make larger than usual changes to income tax brackets for the coming year. Tax agencies in the United States and Minnesota have raised the floor of the brackets that determine the tax rate on wages and other personal income. In response to the highest inflation in …

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IRS issues another tax warning to Americans who earned more than $600 online

IRS issues another tax warning to Americans who earned more than $600 online

Independent contractors who have earned money through online services will have their income reported to the Internal Revenue Service (IRS) starting in 2023, the agency said in a second warning issued Tuesday. People who have made money through eBay, Etsy, Poshmark, Uber and other digital services will face the new oversight and new rules. It …

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Europe First: Brussels is preparing to give up its ideals of free trade

Europe First: Brussels is preparing to give up its ideals of free trade

The last great defender of rules-based open commerce — the European Union — is about to fall. It happens in slow motion and the impact will be painful. If the world’s largest trading bloc abandons the concept of free trade, the entire global economy will suffer. But such an outcome looks increasingly likely, as the …

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You can get early access to your tax refund now, but you probably shouldn't

You can get early access to your tax refund now, but you probably shouldn’t

There’s nothing like the feeling of getting a big tax refund; but that doesn’t mean you have to take out a loan to get your money sooner. Filing your taxes as soon as possible is good practice — the IRS will start accepting returns on January 24, 2023 — but asking for an advance on …

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Tax filing season is upon us and Americans are eagerly awaiting their refunds.

Tax refunds could be lower this year. How to make sure you get every penny

The IRS warns that your next tax return could be smaller. Americans are already squeezed by inflation and face a potential recession. So it’s even more important to make sure you get every penny of your refund. Here’s how. Consumers, already squeezed by the highest inflation in a generation and facing a potential recession, may …

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Inflation Relief: At Least 20 States Offer One-Time Discounts, Tax Credits

Inflation Relief: At Least 20 States Offer One-Time Discounts, Tax Credits

(NewsNation) – Amid painfully high inflation and rising interest rates, at least 20 states are offering one-time tax refunds and tax credits to help residents cope with the rising cost of life. Americans are experiencing the worst inflation spurt in four decades. In October, rates fell to 7.6% after peaking at 9.1% in June. The …

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