Local taxes
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Definitive End to SALT Workarounds Could Challenge State Tax Preparers
January 10, 2019 6:58 AM
In August 2018, the U.S. Department of the Treasury proposed a rule limiting the types of charitable contributions taxpayers are permitted to deduct on their federal income tax returns. This rule was a direct—and directed—response to tax laws recently enacted by high-tax states like New York and New Jersey in an...
The U.S. Treasury's Response to State SALT Workarounds
June 26, 2018 9:36 AM
The U.S. Treasury's Response to State SALT Workarounds The Tax Cuts and Jobs Act—which made some serious changes to the way taxpayers can deduct state and local taxes (SALT)—continues to make waves among high-tax states like New York, Connecticut, and Illinois. Although some of these states have already passed...
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