Major IRS Changes Coming for Business Tax Audits in 2025
The Internal Revenue Service (IRS) announced new guidance on Friday aimed at dramatically reducing examination times for corporate taxpayers while making the audit process more collaborative and efficient. The Interim Guidance Memorandum introduces sweeping changes to how the IRS conducts business tax examinations, with implementation beginning in 2025 and extending through 2026. Why It Matters […]
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Map Shows How Many People Will Lose Healthcare in Each State Under Tax Bill
A number of states could see the population of Americans without health insurance increase by 5 percent if President Donald Trump‘s tax and spending bill is passed, according to data collected by KFF. Louisiana, Washington and Oregon are expected to see the biggest rises in the number of constituents without health insurance if the “Big […]
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Canada and US Trade Talks Resume After Digital Tax Reversal
Canada and the United States have resumed trade negotiations after Canadian Prime Minister Mark Carney agreed to rescind the country’s digital services tax on U.S. technology companies. The development follows President Donald Trump‘s announcement on Friday that he was suspending all trade talks with Canada “effective immediately” over the tax policy. Why It Matters Trump’s […]
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Marjorie Taylor Greene Turns Against Donald Trump’s Tax Bill
By Giulia Carbonaro is a Newsweek reporter based in London, U.K. Her focus is on the U.S. economy, housing market, property insurance market, local and national politics. She has previously extensively covered U.S. and European politics. Giulia joined Newsweek in 2022 from CGTN Europe and had previously worked at the European Central Bank. She is […]
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How Senate Tax Bill Differs From House Bill: What to Know
Senate lawmakers have released proposed tax changes to the One Big Beautiful Bill Act, making a number of changes to the budget plan approved by the House of Representatives in May. Why It Matters The bill is the cornerstone of President Donald Trump’s economic agenda for his second term in office. The Senate Committee on […]
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Trump Admin Gets a Win as Federal Judge Allows IRS to Share Tax Data With ICE
By Gabe Whisnant is a Breaking News Editor at Newsweek based in North Carolina. Prior to joining Newsweek in 2023, he directed daily publications in North and South Carolina. As an executive editor, Gabe led award-winning coverage of Charleston church shooter Dylan Roof’s capture in 2015, along with coverage of the Alex Murdaugh double murder […]
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Trump Floats Creating New Tax Bracket for Wealthiest Americans: Reports
President Donald Trump this week told House Republicans to raise taxes on the richest Americans as part of their sprawling budget bill, according to The New York Times and The Washington Post, which cited people familiar with Trump’s stance. Why It Matters Trump’s reported demand stands in stark contrast to the mainstream Republican position on […]
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Medicaid Update: Republicans Scaling Back Cuts Amid House Tax Break Battle
House Republicans are beginning to scale back some of their proposed deep Medicaid cuts as part of their sweeping tax break legislation, facing mounting resistance from centrist GOP lawmakers wary of slashing health coverage for their constituents. However, not all proposed reductions are off the table. A new report released Wednesday by the nonpartisan Congressional […]
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Congress, Don’t Give the Marijuana Industry a Tax Cut | Opinion
The Trump administration’s mantra is to cut waste and cut costs. So, it might seem unthinkable that the federal government would give an addictive industry a tax cut. But that’s exactly what many are proposing. Last year, companies that make highly addictive and dangerous drug products spent more than $4.5 million convincing lawmakers that today’s […]
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Beware the Republicans' Anti-Parent Tax Plan | Opinion
As parents, we’re juggling a lot—childcare, school drop-offs, rising grocery bills, housing costs, college tuition, and figuring out how to make it all work.
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