The math doesn’t add up. Billionaires watch their wealth grow by billions annually, yet many pay lower tax rates than middle-class workers. Some years, they pay nothing at all in federal income taxes. So I asked ChatGPT to explain how this actually works. The answer wasn’t about illegal tax evasion or secret offshore accounts. It’s simpler than that — and completely legal. The System Taxes Income, Not Wealth Here’s the foundation of everything: the U.S. tax code taxes income, not wealth. Billionaires d ...

I'm Colin Sheedy. I work front of house at Burger Stand, Lawrence. I've been a tip worker for about five years.So I think the prospect of having to pay less in taxes is enticing. The new no tax on tips provision in the One big Beautiful bill allows tipped employees to deduct up to $25,000 from their federal tax filing each year. The program began in 2025 and is in place through 2028.This provision will increase average take home pay for tipped workers by $1,300 a year. But I think this is something that wil ...

Japan’s Prime Minister Sanae Takaichi and her ruling coalition are poised to sign off on an income tax hike starting in 2027 to help finance a planned increase in defense spending, moving forward long-delayed plans as security concerns intensify https://t.co/cC7ZPn11eo ...

The Hidden Tax Cost Of A $1.5 Billion Powerball JackpotWhile one lucky Powerball winner could be coming home with a tremendous amount of money, some may not realize that these winnings are subject to income tax, and the tax they owe on this money can vary significantly based on where the ticket was purchased and where the winner resides. https://t.co/KdyyKYernQ ...

And we're going to be giving back refunds out of the tariffs because we've taken in literally trillions of dollars and we're going to be giving uh a nice uh dividend to the people in addition to reducing debt. You won't even have income tax to pay because the money we're taking in is so great. The word affordability is a conj job by the Democrats.>> He said we stopped inflation in its tracks. Well, that's not really true. He inherited inflation at 3%.As I said, it had come way, way down. It did go down a bi ...

RT Watcher.Guru (@WatcherGuru)JUST IN: 🇺🇸 President Trump says there will be no income tax "at some point in the not-too-distant future." https://t.co/4BS4SvwseM ...

🇺🇸 LATEST: President Trump suggests Americans "won't even have income tax" in the near future. https://t.co/nCSXPlovai ...

JUST IN: 🇺🇸 President Trump says there will be no income tax "at some point in the not-too-distant future." https://t.co/4BS4SvwseM ...

Core Insights - The document contains a comprehensive list of tax-related terms, forms, and regulations, indicating a focus on taxation and compliance in the financial sector [1][2]. Group 1: Tax Regulations - The document references various tax forms such as Form 16, Form 26AS, and Form 16A, which are essential for income tax filing and compliance [2]. - It highlights the importance of deadlines for filing eTDS returns and the consequences of late submissions, emphasizing the need for timely compliance [2]. - There are mentions of changes in excise duty rates and service tax regulations, reflecting ongoing adjustments in tax policies that affect businesses [1][2]. Group 2: Financial Instruments - The document discusses various financial instruments, including fixed deposits, mutual funds, and exchange-traded funds, indicating a broad spectrum of investment options available to individuals and businesses [2]. - It outlines the implications of long-term capital gains tax, which is crucial for investors in planning their investment strategies [2]. Group 3: Compliance and Reporting - The document emphasizes the necessity for businesses to maintain accurate records and comply with tax regulations to avoid penalties, highlighting the role of proper documentation in financial management [1][2]. - It mentions the use of software tools for e-filing and tax calculations, suggesting a trend towards digital solutions in tax compliance [2].

RT Watcher.Guru (@WatcherGuru)JUST IN: 🇺🇸 President Trump says US may "completely" cut income tax due to tariff revenue. https://t.co/7Fh7Kwfg4b ...