The IRS has adjusted federal income tax brackets for 2025, increasing the standard deduction and shifting tax thresholds to ...

This would put the entire income tax burden on a tiny minority of people. This is already the case, to a certain extent. The top one percent of taxpayers currently pay about 40 percent of all ...

Aliss Higham is a Newsweek reporter based in Glasgow, Scotland. Her focus is reporting on Social Security, other government benefits and personal finance. She has previously extensively covered U ...

The House passed a budget bill proposing federal spending cuts, tax cuts, and increased funding in certain areas. The bill includes a proposal to eliminate federal income tax on overtime pay.