Latest Personal taxes News

Liz Weston: How to reduce taxes when you sell your home

May. 16, 2022 09:36 AM EDT

If your home’s value has soared, congratulations. If you decide to sell, beware. Financial advisor James Guarino says some clients don’t realize that home sale profits are potentially taxable until their returns are prepared — and by that time, they may have spent the windfall...

Editorial Roundup: Texas

May. 16, 2022 07:12 AM EDT

Austin American-Statesman. May 11, 2022. Editorial: Gov. Abbott should be transparent, release border documents What is he trying to hide? That was our first thought late last week when we learned that Gov. Greg Abbott had refused a media request to...

California governor: $98B surplus backs true pro-life state

May. 13, 2022 19:28 PM EDT

SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom on Friday pledged to use the state's record-breaking $300 billion budget, including an unprecedented nearly $100 billion surplus, to “future proof” the state from the impacts of a volatile midterm election cycle that he fears will...

Agency error means richest Minnesotans owe more in taxes

May. 13, 2022 18:00 PM EDT

ST. PAUL, Minn. (AP) — About 45,000 of the richest residents in Minnesota owe the state about $38 million because of a mistake by the state Department of Revenue. Authorities said the Legislature changed the standard income tax deduction during the 2019 session but it wasn't...

Missouri Legislature passes few bills in slow session

May. 13, 2022 17:55 PM EDT

JEFFERSON CITY, Mo. (AP) — Missouri lawmakers passed few bills during the 2022 legislative session, in part because of gridlock in the Republican-led Senate. Senators adjourned Thursday after approving new congressional districts, cutting off work on all other bills. The GOP-led...

Editorial Roundup: New England

May. 13, 2022 07:13 AM EDT

Hearst Connecticut Media. May 11, 2022. Editorial: Should girls lacrosse players wear helmets? Of course they should If the absence of mandatory helmets in girls lacrosse seems baffling, consider the history of protective equipment in baseball. The most...

Inflation triggers California minimum wage increase in 2023

May. 12, 2022 21:52 PM EDT

SACRAMENTO, Calif. (AP) — California's minimum wage will jump to $15.50 per hour next year, Gov. Gavin Newsom's administration announced Thursday, an increase triggered by soaring inflation that will benefit about 3 million workers. The increase is required by a state law passed in...

Kemp: $1.1 billion in Georgia tax refunds begins this week

May. 11, 2022 18:11 PM EDT

ATLANTA (AP) — Georgia Gov. Brian Kemp says special state income tax refunds will begin this week, although it could be early August before everyone who filed a return before the April deadline will get paid. The Republican Kemp persuaded lawmakers to approve paying $1.1 billion in...

Editorial Roundup: Pennsylvania

May. 11, 2022 12:51 PM EDT

Lancaster Lancaster Online/LNP. May 8, 2022. Editorial: Pennsylvania’s closed primaries diminish democracy and encourage extremism THE ISSUE When Lancaster County residents cast their ballots in the May 17 primary election, more than 57,000 registered...

Louisiana state income tax filing deadline is Monday

May. 11, 2022 12:07 PM EDT

BATON ROUGE, La. (AP) — The Louisiana Department of Revenue is reminding people that the state income tax filing deadline is almost here. A news release notes that the deadline is Monday, and anyone who wants an extension must ask before then. Taxpayers can file their returns...