SALT Deduction – Battle Lines Have Been Set and Swords Have Been Drawn

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Article Highlights: • SALT Tax Limits • State Work-arounds • Converting Tax Deductions to Charitable Contributions • IRS Regulations • Taxpayer Beware  Tax reform has limited the federal itemized deduction for state…
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States Sue U.S. to Void $10,000 Cap on State and Local Tax Deduction

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Four states – New York, Connecticut, Maryland and New Jersey – have sued the federal government to void the tax-reform cap on the federal itemized deduction for state and local taxes, contending that limiting the deduction is unconstitutional.…