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The Latest Breaking News from Tax Exemption

Man pays zero tax on Rs 5 crore land sales despite filing ITR after deadline; ITAT Mumbai rules in his favour for this reason

A Mumbai man successfully claimed a tax exemption on Rs 5 crore land sales despite filing his ITR after the deadline. The ITAT Mumbai ruled in his favor, stating that since he used the entire capital gains to purchase a new property before filing his belated return, depositing the funds…

The Economic Times

Jeff Bezos Calls for a Total Federal Income Tax Exemption to Lift the Burden Off Struggling American Workers

Jeff Bezos proposes exempting low-earning Americans from income tax, arguing their contributions are minimal. His stance sparks debate with New York politicians over economic inequality and taxation policies.

International Business Times UK

Missed the Enhanced STAR deadline? Thousands of New York seniors could still recover $1,000 property tax relief through a hidden late-filing opportunity many homeowners never realized existed

Thousands of New York seniors may still qualify for Enhanced STAR property tax relief worth more than $1,000 despite missing earlier filing deadlines. Rising property taxes and inflation have pushed retirees into financial stress. Now, late-filing options and updated exemption rules are drawing fresh attention across New York. Many homeowners…

The Economic Times

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Connecticut Seniors: The 100% Social Security Tax Exemption Now Applies to Most Retirees

If you’re retired in Connecticut, there’s some good news that could directly impact your wallet. Many seniors are now paying little to no state tax...

Saving Advice

Colorado Update: The Senior Property Tax Exemption Saves Homeowners an Average of $600+ Annually

Property taxes may not get as much attention as mortgage payments, but for retirees, they can quietly eat into a fixed income year after year....

Saving Advice

All World Cup teams poised for tax exemption after Fifa talks with US treasury

Fifa is poised to secure a last-minute tax exemption for all 48 World Cup qualifiers after intensive negotiations with the US treasury

The Guardian - UK

Virginia's Unconstitutional Effort to Strip Property Tax Exemptions From Pro-Confederate Groups

The groups and their ideology are awful. But Virginia's policy violates the First Amendment. Allowing it to stand could set a dangerous precedent.

Reason

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'A self-inflicted hit': Washington state just rolled back sales tax exemptions for AI data centers worth hundreds of millions

Washington narrowed a key data center tax break, reflecting broader tensions as states reconsider incentives amid industry resistance and rising public concerns.

TechRadar

More than half of World Cup countries face extra costs as Fifa fails to agree US tax deal

Failure to agree tax exemption means additional costs for countries with the burden to fall disproportionately on smaller nations

The Guardian - UK

Postcode where more drivers plug into electric car cuts

More than 100,000 Australians have taken advantage of the federal government's tax exemption for electric vehicles but households in one location are most keen.

AAP

Avoid These Estate Tax Errors That Could Ruin Your Legacy Plans

No parent wants to leave half their estate to Uncle Sam rather than their children or grandchildren.

GOBankingRates

UAE drops corporate tax for sports bodies under new law: Here’s who qualifies

The United Arab Emirates Ministry of Finance has introduced a new corporate tax exemption for non-commercial sports organisations. This policy aims to boost the UAE's sports sector and strengthen its global standing. Qualifying entities must be officially recognised and strictly non-commercial. The move is expected to encourage investment and growth…

The Times of India

Brazil’s Lula sanctions an increase in tax exemptions for low-income people

Brazilian President Luiz Inácio Lula da Silva has sanctioned a bill that exempts people earning up to 5,000 reais a month from income taxes

The Independent UK

Trump Tax Bill 2025: What Changed and How It Affects Your Taxes

From standard deduction amounts to tax brackets and Medicaid cuts, here’s what individual filers need to know about tax changes in Trump's "big beautiful bill."

Kiplinger

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Kiplinger

The New Estate Tax Exemption Amount for 2026

The IRS has increased the exemption as we enter into a promising tax year for estates and inheritances.

The Conversation

Top sports teams are bought and sold for billions worldwide. The risky trend is coming to Australia

In recent years, private equity has changed the global sports landscape, with clubs from Major League Baseball (MLB) and the National Football League (NFL), rugby union in New Zealand and European soccer reaping massive financial benefits.

AAP

Keep electric car tax cut, remove pollution instead

A tax exemption for electric vehicles could put another 1.5 million on Australian roads if it is extended to 2035, modelling shows, and cut carbon emissions.

Everybody Loves Your Money

Why Some Nonprofits Are Losing Tax-Exempt Status in 2025

The nonprofit world is buzzing, and not in a good way. Across the United States, organizations that once proudly wore the badge of tax-exempt status are now watching it slip through their fingers. The year 2025 has brought a perfect storm of rule changes, compliance crackdowns, and IRS enforcement that’s…

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GOBankingRates

9 Things Frugal People Always Do When They First Buy a House

Frugal people don't stop saving once they've bought a house -- they keep looking for ways to make the most of their money. From claiming every property tax exemption to tackling DIY projects, they...

Kiplinger

Ask the Editor, August 29: Tax Questions on Estate and Gift Taxes

In this week's Ask the Editor Q&A, we answer questions from readers on estate and gift taxes.

The Free Financial Advisor

10 Estate-Planning Myths Boomers Still Believe—Updated for 2025 Law Changes

Estate planning is one of those financial tasks many people know they should do, but it’s easy to put off or misunderstand. Unfortunately, outdated beliefs and confusion about recent law changes can leave families unprepared. In 2025, updates to tax exemptions, retirement account rules, and trust structures make it even…

The Mary Sue

‘Thankfully the kids didn’t notice’: Customers get to Airbnb in Galveston, Texas. Then they see something that wasn’t mentioned in the listing

Did this homeowner turn their house into a graveyard just for the tax exemption? Some people seem to think so.

Reason

Pennsylvania Gives Amazon Potentially Unlimited Sales Tax Exemption

The tech and online retail giant will build at least two data centers in the Keystone State but pay no sales taxes on equipment.

Reason

S. Ct. Rejects Wisconsin Unemployment Tax Exemption's Different Treatment of Proselytizing and Non-Proselytizing Religions

The government generally may not "distinguish[] among religions based on theological differences in their provision of services."

Kiplinger

Big GOP Tax Bill Could Change Your Estate Planning for 2025

The GOP extended and increased the higher gift and estate tax exemption and affected AMT thresholds. What might this mean for your estate plan?

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