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RI Bill Would Allow Taxes On College Endowments Over $1B

by usoftax_admin | Feb 3, 2025 | Tax News

Rhode Island would allow cities and towns to tax private university and college endowments of more than $1 billion under a bill introduced in the state House of Representatives.

DC Judge Joins RI In Blocking Trump Funding Freeze

by usoftax_admin | Feb 3, 2025 | Tax News

A D.C. federal judge on Monday temporarily blocked the Trump administration from implementing a freeze on federal spending while a group of nonprofits sue over the move, ruling the pause appears to “suffer from infirmities of a constitutional...

EPPO Probes Steel Tax Fraud In UK And Germany

by usoftax_admin | Feb 3, 2025 | Tax News

The European Public Prosecutor’s Office is investigating suspected tax fraud linked to imports of Indian steel into Germany via the U.K. to dodge the European Union’s import duties, the office said Monday.

Couple Cannot Deduct IVF Surrogacy Expenses, IRS Says

by usoftax_admin | Feb 3, 2025 | Tax News

A married couple who said medical problems require them to use a pregnancy surrogate to have a child may not deduct their payments for in vitro fertilization for the surrogate as their own medical expenses, the Internal Revenue Service said in a private letter...

US Tariffs On Mexico And Canada Paused For One Month

by usoftax_admin | Feb 3, 2025 | Tax News

President Donald Trump said Monday that he will suspend the imminent 25% tariffs on Mexican and Canadian goods entering the U.S. for one month after talking with both countries’ leaders.

Funding Freezes ‘Commonplace,’ Feds Tell DC Judge

by usoftax_admin | Jan 31, 2025 | Tax News

The Trump administration is asking a D.C. federal judge to throw out a lawsuit challenging a freeze on federal spending outlined in a since-rescinded memo from the White House budget office, telling the court that the withdrawal moots the litigation.
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