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Tax Season Shocker: Fewer Refunds but Bigger Payouts as New Tax Changes Loom

No Tax on Tips, Overtime and Seniors? States Push Back on Trump’s New Tax Breaks

When Congress passed President Donald Trump’s One Big Beautiful Bill Act (OBBBA) this summer, the headlines almost wrote themselves: “No tax on tips,” “no tax on overtime,” “$6,000 bonus deduction for seniors.” For millions of workers and retirees, it sounded like simple, sweeping tax relief starting with their 2025 returns. But as of Monday, November 17, 2025, a wave of new state‑level actions shows the reality is far messier. Washington, D.C. has already moved to block the new breaks in its local tax code, and a fresh report syndicated across Gannett outlets today confirms Illinois will also keep taxing tips
17 November 2025
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London Stock Exchange at Record Highs – Inside the Historic Market’s Brexit Battle and 2025 Revival

UK Stock Market Today: FTSE 100 Falls as Reeves Tax U‑Turn Triggers Gilt Sell‑Off and Global Tech Jitters – 14 November 2025

London, 14 November 2025 — The UK stock market closed lower on Friday as investors dumped British government bonds and marked down banks, property stocks and other domestic names after reports that Chancellor Rachel Reeves has abandoned plans to raise income tax in this month’s high‑stakes Autumn Budget. A global sell‑off in technology shares and fresh worries about China’s economy added to the pressure on the FTSE 100 and FTSE 250. London South East+2The Guardian+2 Market snapshot: FTSE 100 and FTSE 250 retreat from record territory The FTSE 100 closed down 109 points, or 1.1%, at 9,698.37, having traded as
14 November 2025
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Tax Season Shocker: Fewer Refunds but Bigger Payouts as New Tax Changes Loom

Tax Season Shocker: Fewer Refunds but Bigger Payouts as New Tax Changes Loom

Fewer Checks, Larger Refunds Mark 2025 Tax Season Americans saw slightly fatter refunds on average this year even as the number of people getting refunds dipped. Final IRS data through October shows the average refund climbed to $3,052, about $48 more than last year’s average accountingtoday.com. That uptick may reflect higher incomes and inflation adjustments that boosted tax withholding – leading many filers to overpay a bit more and get larger refunds. In total, the IRS disbursed $311.65 billion in refunds for the 2025 season, roughly 0.6% more than the prior year el-balad.com. However, those dollars were spread across slightly
29 October 2025
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Shocking IRS Update: New 2026 Tax Brackets Slashed for Millions – Here’s How Much You’ll Save

Shocking IRS Update: New 2026 Tax Brackets Slashed for Millions – Here’s How Much You’ll Save

The IRS announced inflation-adjusted 2026 tax brackets and deductions, easing bracket creep irs.gov cbsnews.com. For example, a single earner making $50,000 will now fall in the 12% bracket (instead of 22%) cbsnews.com. The standard deduction rises to $32,200 for joint filers ($16,100 single) irs.gov. All seven marginal rates (10%–37%) remain in force under the new law, but higher income cutoffs apply irs.gov. Capital gains thresholds also jump: the 0% rate applies up to ~$49,450 (single) or $98,900 (couples) thefinancebuff.com, and the 15% bracket extends to ~$545,500/$613,700 thefinancebuff.com. These changes stem from the new “One Big Beautiful Bill” law (signed July
9 October 2025
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