California projected to face $18B deficit as Newsom heads into his last year as governor
California will face a projected $18 billion deficit next year, according to a report by the nonpartisan Legislative Analyst's Office.
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California will face a projected $18 billion deficit next year, according to a report by the nonpartisan Legislative Analyst's Office.
The IRS on Thursday announced adjustments to the federal income tax brackets and standard deductions for 2026.
A bill that would reverse a 25% tax increase on California's legal cannabis industry is heading to Gov. Gavin Newsom's desk, after being approved by the legislature.
California Gov. Gavin Newsom suggested withholding the state's taxes amid reports the Trump administration may cut funding for the state's universities.
The White House says the U.S. and China have agreed to suspend for 90 days most of the tariffs imposed against each other over the last couple months.
Filing a tax extension is easy. But it's important to know what you're getting into, including what to do if you owe money to the IRS.
The Los Angeles Dodgers topped a record nine teams owing Major League Baseball's luxury tax this year with an unprecedented $103 million penalty.
The IRS says its push to step up audits on wealthy tax cheats is paying off, with the agency recovering more than $1 billion.
California has a budget deficit of $27.6 billion, Gov. Gavin Newsom announced Friday — a gap so wide that he's proposing cutting 10,000 vacant state jobs and suspending some widely used business tax deductions.
If you're one of the millions of taxpayers who delay their taxes, it's easy to get an extension to October 15.
The White House is proposing a "mortgage relief credit" that would give homebuyers an annual tax credit of $5,000 for two years.
Owner of Facebook and Instagram could bar users in the state from sharing news over bill requiring tech companies to pay news publishers.
Filing tax returns can be a slog, but the majority of individual federal taxes are paid by a small slice of Americans.
Tax agency said it is trying to determine whether tax rebates, issued in many states last year, count as income.
The Democratic-controlled House Ways and Means Committee released six years of former President Donald Trump's tax returns, ending Trump's years-long legal battle to keep them secret. Meanwhile, the Jan. 6 committee has released another round of witness transcripts. Scott MacFarlane reports.
The documents contain details that were not previously public, such as loans he gave to his children, income from book royalties and Melania's modeling, and how much of his presidential salary was given to charity.
After a long legal fight, a House panel investigating the former president on Friday released new details of his tax returns.
Anyone getting paid for their goods and services through apps like Venmo or Etsy just got a reprieve from the Internal Revenue Service.
Tax agency will forgo some late fees for people who were affected by health crisis, with average refund of $750.
Monday marks the deadline for Angelenos to get their taxes filed or request an extension. Kara Finnstrom reports.
Mark Steber, Chief Tax Information Officer of Jackson Hewitt, joined the studio to discuss tax season, the looming deadline to pay taxes, and how to avoid all the potential penalties if you're rushing to file your own taxes before Monday's deadline.
Real estate developer Rick Caruso said he paid more than $1.6 million in personal income taxes over the last five years, but he will not release his full tax returns.
Jason Robertson had two goals and an assist, and the Dallas Stars beat the Anaheim Ducks 8-3 for their third straight win.
Authorities in Mexico have seized a large collection of motorcycles believed to be owned by Ryan Wedding, the former Olympian wanted for allegedly running a major drug trafficking operation.
While many of the Minnesota day care centers in the video were cited and fined for safety violations, investigators previously found no evidence of fraud.
Andrew Heaney has announced his retirement from Major League Baseball after 12 seasons, including a 2023 World Series Championship. He pitched for the Marlins, Angels, Dodgers, Pirates and Yankees over the course of his career.
Drivers were advised to instead use SR-23 to avoid the closure.
Authorities in Mexico have seized a large collection of motorcycles believed to be owned by Ryan Wedding, the former Olympian wanted for allegedly running a major drug trafficking operation.
While many of the Minnesota day care centers in the video were cited and fined for safety violations, investigators previously found no evidence of fraud.
Drivers were advised to instead use SR-23 to avoid the closure.
The Grammy-winning artist Beyoncé became the fifth musician to achieve the wealth milestone, Forbes said Monday.
"I'm here sharing the statement today because the life of our beautiful 18-year-old son, Braun Levi, brutally and senselessly ended in a preventable tragedy," Jennifer Levi said.
Drivers were advised to instead use SR-23 to avoid the closure.
"I'm here sharing the statement today because the life of our beautiful 18-year-old son, Braun Levi, brutally and senselessly ended in a preventable tragedy," Jennifer Levi said.
The Monday crash involving the inmate transfer van occurred around 8:50 a.m. on the northbound 5 Freeway south of Paxton Street.
Winds are expected to weaken by Tuesday before another rainstorm off the coast of Mexico develops on Wednesday.
Officers found a man in his 30s suffering from a gunshot wound.
Rock music legend Sammy Hagar has donated $10,000 to a 12-year-old boy who was injured when a helicopter crashed on him in Huntington Beach in October.
It happened at around 10:23 p.m. on Saturday near S. Gilbert Street and Carol Drive, according to the Fullerton Police Department.
Police say that the shooting stemmed from a fight at a party on Friday night.
Southern California air quality regulators extended a no-burn alert for much of Los Angeles, Orange, Riverside and San Bernardino counties.
With Hanukkah underway and Christmas approaching, CBS LA is issuing a Next Weather Alert for rainy weather this holiday season.
A San Bernardino County resident is recounting the intense moments that he watched his neighbor get rescued from their home by helicopter when it was overcome with flooding waters during the recent winter storm.
The driver was the only passenger in the car, deputies said.
Deputies arrested a 51-year-old man in connection with the 2006 shooting in Highgrove, according to a news release from the Riverside County Sheriff's Office.
Five people, including two children, were injured in a two-car crash that happened after a large boulder fell onto Highway 18 near Big Bear Lake on Friday night.
Highway 2 leading into Wrightwood is washed out due to flooding, with evacuation and safety warnings in place as crews work to get the situation in the area under control, according to San Bernardino County Fire.
Authorities in Mexico have seized a large collection of motorcycles believed to be owned by Ryan Wedding, the former Olympian wanted for allegedly running a major drug trafficking operation.
While many of the Minnesota day care centers in the video were cited and fined for safety violations, investigators previously found no evidence of fraud.
Luka Doncic scored 34, LeBron James had 24 points, and the Los Angeles Lakers snapped their three-game losing streak with a 125-101 win over the Sacramento Kings.
"Sunday Morning" looks back at some of the newsworthy men and women who passed away this year – from musicians and storytellers, to activists and statesmen – who touched us with their creativity and humanity.
Since 1907, New Yorkers have marked the New Year with the ceremonial dropping of a huge ball in Times Square. Now, a brand-new ball, covered with more than 5,000 handcrafted Waterford Crystal discs, will help ring in 2026.
While many of the Minnesota day care centers in the video were cited and fined for safety violations, investigators previously found no evidence of fraud.
Israeli Prime Minister Benjamin Netanyahu also announced President Trump will receive the Israel Prize for his work on peace negotiations.
Bank of America Chairman and CEO Brian Moynihan stated last week that, as President Trump seeks a new chair of the Federal Reserve, maintaining the banking system's independence is paramount.
Karoline Leavitt and her husband, Nicholas Riccio, welcomed their first child, also named Nicholas, in July 2024.
Strikes against ISIS targets in Nigeria come after President Trump spent weeks accusing the West African country's government of failing to rein in the persecution of Christians.
San Francisco officials said Tuesday that the city has filed a lawsuit against leading manufacturers of ultra-processed foods, accusing them of producing products linked to serious health issues and alleging that the companies knowingly made the foods addictive.
A bill that would reverse a 25% tax increase on California's legal cannabis industry is heading to Gov. Gavin Newsom's desk, after being approved by the legislature.
Meal kit delivery firm HelloFresh will pay $7.5 million to settle a lawsuit accusing it of misleading customers and making it difficult for them to cancel their subscriptions.
With the help of her daughter and her 5th-grade class, CBS News California (KCAL) Investigative reporter Julie Watts investigates "Sephora Kids" concerns.
A Southern California man has pleaded guilty for his role in a scheme that stole more than $2 million from San Francisco-based food delivery company DoorDash, federal prosecutors said.
Millions of people with an Affordable Care Act health plan face a massive jump in premiums next year — this chart shows just how much.
"I don't know how I'm going to pay for this," said one person with an Affordable Care Act plan that will cost her $1,100 a month starting in January.
San Francisco officials said Tuesday that the city has filed a lawsuit against leading manufacturers of ultra-processed foods, accusing them of producing products linked to serious health issues and alleging that the companies knowingly made the foods addictive.
In an interview with CBS News, FDA Commissioner Dr. Marty Makary explains what went into the decision to drop the most serious warnings on hormone therapy for menopause.
At least 11 people have contracted Salmonella linked to powder supplements sold at Sam's Club stores nationwide, health authorities said.
About 30% of San Francisco was without power at the height of the outage, according to utility provider PG&E.
The DMV said it is giving Tesla Motors 60 days to address its misleading use of "autopilot," or it could have its dealer license temporarily suspended.
California is set to join a growing list of states banning the practice of cat declawing, under a new law taking effect in January.
San Francisco officials said Tuesday that the city has filed a lawsuit against leading manufacturers of ultra-processed foods, accusing them of producing products linked to serious health issues and alleging that the companies knowingly made the foods addictive.
Waymo has begun offering autonomous robotaxi service using freeways for the first time in select cities in California and Arizona, the company announced.
Jason Robertson had two goals and an assist, and the Dallas Stars beat the Anaheim Ducks 8-3 for their third straight win.
Andrew Heaney has announced his retirement from Major League Baseball after 12 seasons, including a 2023 World Series Championship. He pitched for the Marlins, Angels, Dodgers, Pirates and Yankees over the course of his career.
Kawhi Leonard scored a career-high 55 points, James Harden added 28 and the Los Angeles Clippers extended their winning streak to a season-high four games with a 112-99 victory over the Detroit Pistons on Sunday night.
Luka Doncic scored 34, LeBron James had 24 points, and the Los Angeles Lakers snapped their three-game losing streak with a 125-101 win over the Sacramento Kings.
Lauren Betts had 18 points and 16 rebounds as No. 4 UCLA extended its winning streak to six games with an 82-75 win over No. 19 Ohio State.
The Grammy-winning artist Beyoncé became the fifth musician to achieve the wealth milestone, Forbes said Monday.
Rock music legend Sammy Hagar has donated $10,000 to a 12-year-old boy who was injured when a helicopter crashed on him in Huntington Beach in October.
It marks the second lawsuit in recent months accusing the filmmaker and studio mogul of leveraging his power in Hollywood to make sexual advances.
The band announced Perry Bamonte's death on their official website on Friday.
Feeding America's CEO said the organization is "incredibly grateful" for Taylor Swift's large donation.
Michele Gile takes a look at the changes coming for the Medi-Cal program in 2026, including undocumented beneficiaries and low-income families.
Luzdelia Caballero takes a look at the ongoing Rose Parade float decoration taking place with just days until the big day, despite uncharacteristic rains in the forecast for New Year's Day.
Joy Benedict reports from Lytle Creek, where residents are busy trying to dig out of the mess left by a powerful winter storm that caused flooding and debris flows, damaging dozens of homes over the Christmas holiday.
Strong gusts of wind toppled trees across Southern California on Monday, including some that fell onto power lines and forced the hours-long closure of SR-118 in Moorpark.
Chef Cheryl Tate shares dishes to make in celebration of the Kwanzaa Karamu Feast.
Widely considered the greatest architect of his time, Frank Gehry helped shape Los Angeles' skyline.
A suspect was taken into custody after an attack on Pearl Street Mall in Boulder on June 1 in which there were 15 people and a dog who were victims. The suspect threw Molotov cocktails that burned some of the victims, who were part of a march for Israeli hostages.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The Franklin Fire in Malibu quickly grew overnight and threatened several homes. Evacuation orders were issued and Pepperdine University instructed students to shelter in place.
Several people have been injured and multiple homes burned after the Mountain Fire broke out Wednesday morning in Ventura County, burning over 10,000 acres within hours.
