As income tax return (ITR ... Switching back to the old regime after opting for the new one is allowed only once. Note: Since Budget 2023, the new regime is the default for individual taxpayers.

Below you’ll find a bill-by-bill breakdown of the tax-related provisions (cuts, refunds, rebates, credits, deductions, increases, or structural code changes) in the Fiscal Year 2025 budget bills.

Aliss joined Newsweek full time in January 2024 after ... income and are therefore currently subject to federal income tax, as well as Social Security and Medicare taxes. Outside of the Republican ...

Lawmakers went back to the drawing board and on April 30 released a new plan that would shift the state to a two-tiered income tax ... reporters after the April 30 hearing. But with budget ...

A bipartisan duo reintroduced a popular measure this week that would expand the low-income housing tax credit with an eye toward including it in Republicans’ budget reconciliation package.

Most New Yorkers are set to get slight income-tax cuts and onetime "inflation refund checks" of up to $400 from Albany under a belated budget deal ... four weeks after the April 1 deadline for ...

ALBANY — Most New Yorkers ... in the overall budget because of uncertain economic times ahead. The original proposal called for checks as much as $500. The income tax break for lower- and ...

COLUMBIA, S.C. (WSPA) – South Carolina has the largest income tax rate in the southeast, with a top income tax rate of 6.2%. However, a new income ... in the state budget in one year.

ALBANY, N.Y. (NEXSTAR) — New York’s 2025 to 2026 budget cuts taxes for ... earners and increases child tax credits, but it also keeps an extra high-income surcharge in place for the wealthiest ...

Additionally, more than 450,000 middle-class families in the Finger Lakes will benefit from tax cuts. The budget also expands New York’s child tax credit. Hochul said more than 100,000 families ...

Most New Yorkers are set to get slight income-tax cuts and one-time "inflation refund checks" of up to $400 from Albany under a belated budget deal ... four weeks after the April 1 deadline ...