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Thursday is the deadline for sending comments to the IRS on its proposal to prevent taxpayers from avoiding the $10,000 federal cap on state and local tax deductions that Congress enacted last December.
October 9 -
The Protecting Family and Small Business Tax Cuts Act of 2018 which passed 220 to 191 isn’t expected to become law because the Senate won’t consider it this year.
September 28 -
The threat of lower tax revenues after the IRS denied the SALT tax workaround isn’t the only worry.
September 24MRV Associates -
House Republicans want to make permanent the $10,000 cap on state and local tax deductions and the lower tax rates for individuals, both of which are due to expire at the end of 2025.
September 13 -
New York Gov. Andrew Cuomo sent letters to the Internal Revenue Service and to Treasury's Inspector General for Tax Administration threatening litigation and and asking for a probe of alleged undue political interference.
September 12 -
Passage of tax legislation in the Senate would require a 60-vote supermajority because the legislation would add to the already burgeoning federal deficit.
September 11 -
The Tax Reform 2.0 legislation includes a permanent cap on the deduction for state and local taxes as well as a higher threshold for the alternative minimum tax.
September 10 -
The bill would make permanent the lower tax rates for individuals and small businesses and the $10,000 federal cap on state and local tax deductions.
September 4 -
The proposed Treasury rules would limit states' use of charitable deductions as workarounds for the $10,000 cap on the federal deduction for state and local taxes.
August 23