Connect with us

Business

Legal & General: Short-Term Earnings Miss, Long-Term Growth And Yield Story Intact

Published

on

Legal & General: Short-Term Earnings Miss, Long-Term Growth And Yield Story Intact
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Caesars Entertainment: Betting On The House To Win

Published

on

Caesars Entertainment: Betting On The House To Win

Caesars Entertainment: Betting On The House To Win

Continue Reading

Business

Stocks Are Rising. Wall Street Is Piling Back Into Risk.

Published

on

Stocks Little Changed After Fed Decision

Stocks Are Rising. Wall Street Is Piling Back Into Risk.

Continue Reading

Business

Tax refunds may be delayed this filing season in several states

Published

on

Social Security faces trust fund insolvency, benefit cuts in 2032: CBO

Taxpayers in several states may face delays in receiving their tax refunds this filing season amid changes in tax policies as well as the processes for filing returns.

Tax refunds are issued to taxpayers when the amount of taxes they paid over the course of the year is greater than the amount of liability based on their return after deductions or credits are applied. Refunds are issued by the IRS at the federal level, while state revenue agencies distribute refunds based on their policies.

Advertisement

This tax season’s refunds have been larger following the enactment of the One Big Beautiful Bill Act (OBBBA) at the federal level, which extended lower tax rates that were set to expire and also created new deductions that required the IRS and Treasury Department to implement new rules for handling them.

Several states have informed taxpayers that their state-level tax refunds may be delayed this tax season for a variety of reasons, including the need to update tax forms and systems to account for OBBBA’s changes at the federal level. Many taxpayers rely on the financial boost of a tax refund check to help shore up household budgets or for special expenses.

HOW TO AVOID TAX SCAMS THIS FILING SEASON

A couple prepares their taxes at a kitchen table.

A couple works on their tax forms as tax season officially opens. (Getty Images)

Taxpayers in New York who filed early this tax season may face processing delays due to the timing of software updates that were installed in early February, which could leave some taxpayers in a “processing loop” according to a report by Kiplinger

Advertisement

Federal tax policy shifts and the state of New York’s inflation refund checks that were disbursed late last year may not have been accounted for prior to the software update.

Idaho’s budget office announced last month that tax refunds may be delayed up to six weeks this filing season due to several factors. 

The agency noted that Idaho cut the budgets of most state agencies in the last two years, which has left the state government with fewer temporary workers who can assist with processing tax returns. Idaho also enacted a law last month that retroactively added similar tax breaks from OBBBA to the state tax code, including the deductions for tipped income and interest on new car loans.

AMERICANS SEE BIGGER TAX REFUNDS SO FAR THIS YEAR AS FILING SEASON BEGINS AT A SLOWER PACE

Advertisement
Laptop people tax forms

Tax forms and filing software had to be updated after the OBBBA was enacted, as well as to account for state-level changes. (iStock)

Oregon announced that taxpayers who filed paper returns won’t see their refunds until early April because the state Department of Revenue won’t begin processing paper returns until the latter part of this month.

The agency said there was a delay in receiving tax forms from the IRS that pertained to tax law changes under OBBBA, while it also adopted some of the law’s policies at the state level, such as a larger standard deduction and a deduction for overtime pay.

Those changes have prompted changes to tax forms and the agency’s tax return processing systems for paper returns. Oregon’s Department of Revenue is encouraging taxpayers to file electronically this season to avoid delays.

HERE’S WHEN TAXPAYERS WILL GET THEIR REFUNDS

Advertisement
Donald Trump celebrates 'big, beautiful bill'

President Donald Trump signed the One Big Beautiful Bill Act into law on July 4, 2025. (Tom Brenner For The Washington Post via Getty Images)

South Carolina taxpayers are facing complications after the legislature didn’t update some of its state-level tax provisions to account for the OBBBA, meaning some federal provisions are accounted for at the state level. 

The discrepancy created issues with tax software programs trying to correctly calculate manual “add backs” of federal tax breaks on returns, which led to delays and may require some filers to submit an amended return.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Taxpayers in the District of Columbia may face refund delays due to Congress overturning a D.C. tax law that had created a divergence from OBBBA provisions in federal law. Those changes prompted a software update in February, which could require some filers to re-file their returns after forms have been revised.

Advertisement
Continue Reading

Business

Which Aussie City Snagged the Top Place?

Published

on

Melbourne

Time Out has released its annual 50 Best Cities in the World list, and for 2026, three cities in Australia made the cut.

In fact, one of these three Aussie cities has been declared the best city on the world. Can you guess what it is?

Melbourne is Time Out’s Best City in the World for 2026

Yes, you read that right. Melbourne is this year’s best city in the world, according to Time Out. It climbed up from its fourth-place finish last year.

“Melbourne’s coolest streets and neighbourhoods are filled with gems, from indie cinemas and rooftop bars to vinyl shops and quirky galleries,” said Time Out.

Advertisement

“And don’t let anyone tell you Melbourne is all personality over looks – we’ve got grand, heritage-listed buildings, laneways lined with colourful murals, world-class gardens and a river (the Yarra) that holds deep spiritual and cultural significance for local Indigenous communities,” it added.

Sydney Places 21st

Joining Melbourne on the list is Sydney, which ranks 21st on the list this year.

“Sydney is renowned for its natural beauty, but if you peel back the layers that make it one of the prettiest cities in the world – the harbour, beaches, bushwalks – you’ll find a trove of qualities that cement Sydney as one of the most exciting places, too,” Time Out said of the city.

Armed with green spaces and great food, Time Out says that any time is the best time to visit Sydney.

Advertisement

Adelaide Places 29th

Last and definitely not the least, Adelaide likewise made it to this year’s 50 Best Cities in the World list.

Time Out points out that Adelaide has been hailed as a “UNESCO City of Music” as well as a foodie destination thanks to its Central Market.

“Tucked between vine-laced hills and a wild stretch of coastline, this compact capital delivers big on dining, culture and pretty landscapes,” Time Out said.

Advertisement
Continue Reading

Business

Former Boss chief Duncan Craib sues HotCopper for defamation

Published

on

Former Boss chief Duncan Craib sues HotCopper for defamation

Former Boss Energy chief Duncan Craib has sued HotCopper after the forum operator allegedly refused to take down defamatory posts.

Continue Reading

Business

Rupee hits record low of 92.35 vs dollar as oil surge pummels Asian assets

Published

on

Rupee hits record low of 92.35 vs dollar as oil surge pummels Asian assets
Indian assets dropped on Thursday and the rupee fell to a record low, as a fresh surge in crude oil prices reignited worries over ‌the ⁠economic impact ⁠from energy supply disruptions even as the currency’s fall was cushioned by central bank intervention.

Brent crude oil prices climbed to $100 per barrel as Iran stepped up attacks on oil and transport facilities across the Middle East, warning the ⁠world to ‌brace for oil at $200 a barrel.

The rupee fell 0.3% to 92.3575, eclipsing its previous ⁠lifetime low of 92.3475 hit earlier in the week.

India’s benchmark equity index Nifty 50 fell about 1%, the yield on the benchmark 10-year bond rose 4 bps, and the rupee averted a fresh record low largely on the back of ‌central bank intervention, traders said.

Advertisement

Asian currencies weakened across the board, while MSCI’s gauge of regional stocks fell more ⁠than 1.5%.


“We expect the RBI to intervene in 92.30-92.35. However if Brent continues to remain elevated for a couple of sessions, the RBI may have to let the rupee go,” said Abhishek Goenka, chief executive at FX advisory firm IFA Global.

Continue Reading

Business

Analysis-Airline hedging strategies fall short as jet fuel price surges

Published

on

Analysis-Airline hedging strategies fall short as jet fuel price surges


Analysis-Airline hedging strategies fall short as jet fuel price surges

Continue Reading

Business

Air New Zealand to cut flights as fuel price surge wreaks havoc on travel

Published

on

Air New Zealand to cut flights as fuel price surge wreaks havoc on travel


Air New Zealand to cut flights as fuel price surge wreaks havoc on travel

Continue Reading

Business

Dow: Turnaround Is Taking Shape, But Much Of The Optimism Is Priced In

Published

on

Dow: Turnaround Is Taking Shape, But Much Of The Optimism Is Priced In

Dow: Turnaround Is Taking Shape, But Much Of The Optimism Is Priced In

Continue Reading

Business

Modco founder Yusuf Khan pursued for $7m tax debt

Published

on

Modco founder Yusuf Khan pursued for $7m tax debt

The tax office is pursuing the founder of collapsed builder Modco Residential, Yusuf Khan, over almost $7 million in alleged unpaid taxes, interest and penalties.

Continue Reading

Trending

Copyright © 2025