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Ill. House Bill Seeks Study Of Eliminating Property Tax System

by usoftax_admin | Feb 10, 2025 | Tax News

Illinois would direct its Department of Revenue and the governor’s Office and Management and Budget to determine the possibility of eliminating the state’s property tax system and replacing the revenue with income tax receipts under a bill introduced in...

Minn. Senate Bill Would Restructure Income Tax Brackets

by usoftax_admin | Feb 10, 2025 | Tax News

Minnesota would eliminate its lowest income tax bracket and alter its remaining tax brackets under a bill introduced Monday in the state Senate.

Ill. House Bill Seeks Income Tax Deduction For Betting Losses

by usoftax_admin | Feb 10, 2025 | Tax News

Illinois would create an income tax deduction for losses from some betting transactions under a bill filed in the House of Representatives.

Trump Buyout Plan Still On Hold As Unions Cite ‘Confusion’

by usoftax_admin | Feb 10, 2025 | Tax News

A Boston federal judge on Monday extended his hold on President Donald Trump’s federal worker buyout program as he weighs a request from unions to block the so-called Fork Directive, which promises months of pay to government employees who resign their...

NM House Bill Seeks Small-Biz Tax Credit For Disasters

by usoftax_admin | Feb 10, 2025 | Tax News

New Mexico would allow small businesses that have been affected by a disaster to claim a tax credit under a bill introduced in the state House of Representatives.

Tax Court Judge Protections Challenged In 11th Circ.

by usoftax_admin | Feb 10, 2025 | Tax News

The federal government oversimplified a U.S. Supreme Court ruling to argue against granting a request to review job protections for U.S. Tax Court judges, the owners of an electronic parts company told the Eleventh Circuit in seeking the reversal of a tax...
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