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The Latest Breaking News from Tax Exemption

The IRS is in chaos

DOGE, departures, data agreements and more are creating havoc at the IRS.

Kiplinger

EVs to cost more under a Coalition government, after Dutton’s apparent backflip on popular tax break

Polestar says Dutton’s move shows ‘a complete lack of understanding of the significant cost-of-living, climate and health benefits of EVs’

The Guardian - AU

Can Harvard Lose Tax Exemption for "Pushing Political, Ideological, and Terrorist Inspired/Supporting 'Sickness'"?

Just as the government can't generally deny tax exemptions to groups that engage in supposed "hate speech," so it may not deny tax exemptions to universities that promote or tolerate ideological agendas that the government disapproves of.

Reason

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read the most diverse news in one place.

Trump puts an end to tax exemption for low-value Chinese imports

Chinese online retailers such as Temu and Shein had been taking advantage of a little-known tax exemption, known as the de minimis provision, to sell their products at very low prices in the US.

Euronews

Trump will stop the tax break for retailers like Shein. It could change the way we shop

The days of getting low cost goods from brands like Temu could be numbered

The Independent UK

The viability of some charities could rest on how they’re taxed – we should be cautious about changing the rules

There have long been calls for New Zealand’s charity-linked businesses to lose their tax exemption status. Under the current rules, companies such as Sanitarium, which is wholly owned by the Seventh-day Adventist church pay no income tax.

The Conversation

DeSantis 'Second Amendment Summer Tax Holiday' for Florida Turns Heads

A $115.6 billion budget proposal offers Floridians everything from 2025 sales tax holidays to a one-time mortgage tax exemption.

Kiplinger

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Congressman Massie Advocates For Tax Exemption For Young Workers

Rep. Thomas Massie and Rep. Lauren Boebert discuss tax policies for workers under 18, highlighting benefits for young individuals and the economy.

Top News

Voters Approve New Veteran Property Tax Relief

Thanks to the election, some Veterans will soon see expanded property tax exemptions.

Kiplinger

The 2025 Estate Tax Exemption

The IRS increased the exemption before the GOP tax bill dropped. Find out how the plan could permanently change the threshold for estate taxes.

Kiplinger

IRS Unveils Higher Standard Deductions And New Tax Brackets For 2025

In addition to higher standard deductions, the IRS has proposed several other significant changes for 2025. Notable adjustments include updates to long-term capital gains brackets, estate and gift tax exemption limits, and eligibility criteria for the child tax credit.

Latin Times

IRS Announces Notable Changes Coming For Filing Taxes

Notable adjustments include updates to long-term capital gains brackets, estate and gift tax exemption limits and eligibility criteria for the child tax credit.

International Business Times

Demand for England’s grammar schools falls – despite VAT on school fees

Ending tax exemption for private education has not led to influx at selective secondaries predicted by critics

The Guardian - UK

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Kiplinger

New Jersey Ends Sales Tax Break for EVs: What to Know

Discover alternative savings now that New Jersey is phasing out its sales tax exemption on EVs.

Kiplinger

Changes to Estate Tax Are Coming... Six Options Congress Could Take

An important estate tax change is looming. Here are six ways that Congress might address estate taxes in 2025.

Kiplinger

Five Considerations About Municipal Bonds if Tax Cuts Sunset

Tax rates are set to revert to 2017 levels after 2025, so now is the time to revisit your muni strategy and plan for optimized portfolio adjustments.

Kiplinger

Gift and Estate Tax vs Capital Gains Tax: Which Is Less?

Capital gains tax rates might be lower than the gift and estate tax rate, but how you handle your estate and whether you use a trust can make a big difference in taxes owed.

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news in one place.

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Kiplinger

Estate Planning Strategies to Consider as Election Nears

Are big changes in tax laws coming soon? Not likely, but you might want to take advantage of higher estate and gift tax exemptions well before the end of 2025.

The Guardian - AU

Luxury ute tax loophole costs Australians $250m a year, researchers say

The Australia Institute says tax exemption on ‘commercial vehicles’ with no testing requirement is incentivising people to buy utes instead of EVs

The Conversation

Churches don’t pay taxes. Should they?

From his office at St. James the Apostle, a 160-year-old Anglican church in downtown Montréal, Rev. Graham Singh is telling us about taxes. “Churches don’t like to talk about wealth. They almost pretend as though they’re poor.” In fact, as he points out, Christian churches in North America are the…

The Hindu

Automatic transmission cars owned by persons with disabilities entitled to tax exemption: Madras High Court

Madras High Court overturns decision denying tax exemption for automatic transmission car to physically challenged owner.

Reason

Can Nonprofits That Help Organize Protests Lose Their Tax Exemptions?

Not because of the viewpoints they express—but yes if they engage in systematic illegal conduct.

Top News

House Democrat Proposes Tax Exemption For Black Americans As Reparations

Rep. Jasmine Crockett's proposal for tax exemption as reparations for Black Americans sparks discussions on racial justice and equity.

Ballotpedia

Georgia voters will decide on two property tax exemption measures and three constitutional amendments in November

The Georgia State Legislature ended its 2024 legislative session on March 29, having placed five measures on the ballot for the general election on Nov. 5, 2024. Three measures are constitutional amendments, and two are property tax exemptions.

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