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Trump Gives Mexico A Break Until April From New Tariffs

by usoftax_admin | Mar 6, 2025 | Tax News

President Donald Trump announced Thursday an almost monthlong exemption for most Mexican imports to tariffs he had placed on the country over drug trafficking concerns, as Mexico President Claudia Sheinbaum pointed to data showing border seizures of fentanyl dropped...

Treasury Pick Pledges To Protect Privacy Of Taxpayer Data

by usoftax_admin | Mar 6, 2025 | Tax News

A former assistant secretary of the U.S. Department of the Treasury said Thursday that he would safeguard the privacy of taxpayers’ data if the Senate approves his return to Treasury as its deputy secretary.

Iowa Total Receipts Through Feb. Drop $239M

by usoftax_admin | Mar 6, 2025 | Tax News

Iowa’s total receipts from July through February lagged behind last year’s collections during the same time frame by $239 million, according to the state Department of Management.

Minn. Panel Advances $3.8B Income Tax Rate Cut Package

by usoftax_admin | Mar 6, 2025 | Tax News

Minnesota would eliminate the state income tax on its lowest tier of earners and adjust brackets to reduce rates for other taxpayers at an initial cost of about $3.8 billion annually under legislation advanced by the House Taxes Committee.

Minn. Couple Can’t Claim $105K Deduction, High Court Affirms

by usoftax_admin | Mar 6, 2025 | Tax News

A Minnesota couple were properly assessed an outstanding income tax liability and disallowed a business loss deduction by the state tax court, the Minnesota Supreme Court ruled. 
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