Chicago residents purchasing alcohol from local liquor stores will see a new tax added to their bills starting Sunday, as the city implements a revised taxation system on retail liquor sales. The Chicago Department of Finance confirmed that a 1.5 percent liquor tax will officially take effect after a two-month delay that was granted to allow retailers additional time to update billing systems and prepare for the change. The new Chicago liquor tax replaces the previous structure that

San Jose officials are calling on state regulators to withdraw newly approved gambling regulations that they say could significantly disrupt the city’s finances and threaten more than 1,000 local jobs. In a letter dated Feb. 19 and addressed to Attorney General Rob Bonta, city leaders warned that the new rules governing California’s card rooms would dramatically reduce tax revenue generated by the city’s two licensed casinos, Casino M8trix and Bay 101. According to city offici

Salaried employees often claim House Rent Allowance (HRA) for rent paid to family members, such as parents or spouses, under the current tax regime. However, under the proposed draft Income-tax Rules, 2026, such arrangements may soon undergo closer scrutiny, especially if the rent exceeds Rs 1 lakh in a financial year. The new rules, if implemented, would require taxpayers to disclose their relationship with the landlord along with other details like the landlord’s name, address, and PAN nu

Ohio lawmakers are advancing a proposal that would allow residents to claim state income tax deductions for qualifying church donations, arguing the move would bring Ohio policy in line with federal tax law while strengthening faith-based services across local communities. House Bill 444, also known as the Tithing Protection Act, was introduced last fall by Republican Rep. Josh Williams of Sylvania Township and Democratic Rep. Dontavius Jarrells of Columbus. The measure received its first he

Eligible U.S. taxpayers will be able to deduct up to $10,000 in auto loan interest for the 2025 tax year under a temporary tax provision created through President Donald Trump’s One Big Beautiful Bill Act, but financial analysts say the actual benefit for most car buyers will be far smaller than the headline figure suggests. While the deduction may appear generous at first glance, typical loan structures and interest payments mean that most borrowers are unlikely to approach the maximum all

Many taxpayers are facing a frustrating wait for their tax refunds as nearly 24 lakh income tax returns (ITRs) for the Assessment Year 2025–26 have been pending for more than 90 days. According to the Minister of State for Finance, Pankaj Chaudhary, as of February 4, 2026, out of 8.79 crore ITRs filed, approximately 24.64 lakh were yet to be processed, leaving millions of individuals waiting for their refunds. The large backlog has triggered concerns, especially for senior citizen

In a significant legal blow to actor Vijay, the Madras High Court has upheld a Rs 1.5 crore tax penalty imposed by the Income Tax Department and dismissed his appeal challenging the levy. The penalty is linked to the alleged non-disclosure of additional income derived from the 2015 film Puli. According to the Income Tax Department, during tax searches conducted in 2015, it was revealed that of Vijay’s total remuneration of around Rs 15 crore, nearly Rs 5 crore was paid in cash and

United States President Donald Trump and his two sons have filed a $10 billion civil lawsuit against the Internal Revenue Service and the US Treasury Department, alleging systemic failures that allowed the unlawful disclosure of their confidential tax information. The lawsuit was filed in federal court in Miami and accuses federal authorities of negligence in preventing internal misconduct that resulted in the release of sensitive financial records. According to the court filing, Tr

Retirement is often seen as a reward for years of hard work, offering time, freedom, and flexibility. However, it also brings a significant change in how income is earned and taxed. Instead of a single salary slip, retirees begin receiving income from multiple sources such as pension, bank interest, fixed deposits, rental income, and investment withdrawals. This sudden shift creates confusion, and even small tax oversights during the first year of retirement can quietly reduce lifetime saving

The Internal Revenue Service has announced that the 2026 tax filing season will officially begin on Monday, Jan. 26, giving taxpayers the green light to submit their 2025 individual income tax returns. The agency expects to process approximately 164 million returns during the upcoming season, with the vast majority filed electronically. Officials say new tax law provisions could lower tax liabilities for some filers and potentially increase refund amounts, while operational changes may alter

Property owners in central Ohio will see notable changes to property tax payment schedules beginning in 2026, as officials in Franklin County revise due dates and Delaware County advances the start of its billing cycle. County leaders emphasized that the adjustments are designed to improve administrative efficiency and provide taxpayers with more time to prepare payments, without altering the total amounts owed or disrupting existing payment plans.

With just days left before the December 31, 2025 deadline, taxpayers across India are being urged to check whether their PAN is linked with Aadhaar. The warning comes from the Income Tax Department, which has made it clear that failure to complete the linking process on time could lead to serious financial and tax-related disruptions. PAN Aadhaar linking is the process of connecting an ind

Tax filing in 2025 was far more complicated for Indians than previous years, largely because personal income streams are no longer limited to salary alone. A growing number of taxpayers now earn through freelancing, digital content creation, SIP withdrawals, RSU vesting, intraday trades and influencer payouts. This shift has made filing returns prone to errors, especially for individuals who fail to reconcile their reported income with official tax statements. Financial experts say that AIS a

The Department of Government Efficiency has rejected claims that it was quietly dissolved months before the end of its contract, calling recent reports inaccurate and misleading. The agency, known for its focus on reducing federal spending and reviewing large segments of the government’s budget, responded after speculation arose regarding its operational status. A recent report had cited an unnamed United States official asserting that the department “doesn’t exist,” prompting widespr

Cook County property owners are finally set to receive their long-delayed second installment property tax bills, with officials confirming that 1.8 million bills are expected to be mailed by Friday. The bills, which are normally delivered during the summer, will carry a due date of December 15, marking the end of a months-long delay that left many residents uncertain about their financial planning for the year. The delay stems from an extensive modernization of Cook County’s aging

The United States House of Representatives has approved a spending bill intended to end the ongoing federal government shutdown, marking a decisive step toward restoring full government operations after weeks of disruption. The measure passed with a 222–209 vote following a contentious debate in Washington, where party leaders exchanged blame over the prolonged impasse. Six Democrats joined Republicans in supporting the legislation, giving the Republican-led chamber the margin it needed to

If you’ve filed your income tax return and are still waiting for your refund, you’re not alone. Many taxpayers in India experience refund delays even months after filing. The good news is that under Section 244A of the Income Tax Act, 1961, the government must pay interest on delayed refunds provided the delay isn’t caused by the taxpayer. The interest rate is fixed at 0.5% per month or 6% per annum, calculated as simple interest on the refundable amount. Interest begins from

Open enrollment for Covered California began Monday with Speaker Emerita Nancy Pelosi joining state and local officials in encouraging residents to enroll early in health coverage. The new enrollment period opens against a backdrop of financial uncertainty, as ongoing federal funding debates threaten to reshape the affordability of health insurance for millions across the state. This year’s enrollment marks a critical moment for the state’s health care marketplace. Covered Calif

Many Indians who migrate abroad continue to maintain strong financial ties with their home country through various savings and investment instruments, including the Public Provident Fund (PPF). However, once an individual’s residential status changes under the Foreign Exchange Management Act (FEMA), different rules come into play. The guidelines determine whether Non-Resident Indians (NRIs) can hold or operate PPF accounts and how the proceeds are managed upon maturity. Under exis