Income Tax

Taxes February 17, 2026 

The legislation, which now heads to the state's House for consideration, would levy a 9.9% tax on earnings over $1 million a year, and is estimated to bring in about $3.5 billion annually.

Taxes February 16, 2026 

Gov. Maura Healey has proposed delaying implementation until next year of what she described as the five “most costliest” changes in the federal tax code created by the One Big Beautiful Bill Act.

Taxes February 16, 2026 

The city’s new social housing tax, levied on lofty pay packages to pay for public housing, was due Jan. 31. The startling news was that it blew the projections out of the water.

Taxes February 12, 2026 

The Senate passed a joint resolution on Thursday blocking changes to the District of Columbia’s tax code, which will now head to President Donald Trump’s desk.

Taxes February 12, 2026 

Oregon Democratic Sen. Ron Wyden introduced a bill Feb. 10 to block the president from receiving any payout, by levying a 100% tax on it. The legislation is unlikely to move given Republicans’ majority in the Senate.

Taxes February 11, 2026 

Under the One Big Beautiful Bill Act, U.S. workers can now temporarily deduct tips from their federal income taxes, up to a $25,000 limit. But Illinois is one of the states that are decoupling with the policy, so tipped income will still be taxed at the state level.

Taxes February 10, 2026 

The independent senator from Vermont, who caucuses with Democrats in the nation's Capitol, will appear Feb. 18 to formally kick off the campaign to place a new tax on billionaires on California's November ballot.

Taxes February 10, 2026 

A proposed Washington income tax on people earning more than $1 million has cleared its first legislative hurdle, with the Senate Ways and Means Committee passing the plan Monday—with some tweaks.

Taxes February 10, 2026 

Oregon Democrats advanced their plan to generate more than $300 million for the current state budget by ending several state tax breaks copied from President Donald Trump’s big 2025 tax- and budget-cutting bill.

Taxes February 9, 2026 

Treasury Secretary Scott Bessent has been talking up Americans getting bigger-than-usual tax refunds this year for months, saying that it will help spark “a non-inflationary boom.” That's unlikely.

Taxes February 6, 2026 

The IRS this week announced tax relief for individuals and businesses in Montana affected by severe wind storms and flooding that occurred the second and third weeks of December 2025.

Taxes February 5, 2026 

The revelation came Thursday during a Senate Banking Committee hearing where Treasury Secretary and Acting Commissioner of the Internal Revenue Service Scott Bessent testified.