Blog: State and local tax

 

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IRS to Issue Regulations Addressing $10,000 Limit on State and Local Tax Deduction

Posted on May 24, 2018 by
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Yesterday, the IRS issued Notice 2018-54 and an accompanying news release stating that proposed regulations will be issued addressing the deductibility of state and local tax payments for federal income tax proposes. As many of you know, the Tax Cuts and Jobs Act (TCJA) limited the amount of state and local taxes an individual can […]