Add in the fact that you won’t be able to deduct State and Local tax off your Fed, and that refund disappears. F’n RINO’s.
Add in the fact that you won’t be able to deduct State and Local tax off your Fed, and that refund disappears. F’n RINO’s.
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I did not see that in this article or the finalized bill...is that in one f the links? Sheesh? Why is no one screaming about this?!?!?
So who exactly is this helping?
This SHOULD be Unconstitutional.
Removing a deduction for State And Local Taxes (SALT) is fundamentally DOUBLE TAXATION.
Politically, the tax code is being reinterpreted from fundamental accounting principles to becoming a temporary popular taxation scheme at the federal level.
Now there isn’t any principle disallowing the federal tax code from exponentially taxing the individual on their other deductions.
For example, if you have somebody prepare your taxes and their calculation of your tax rate is 25%, now the govt might claim you owe them an additional 25% on that 25% because the the amount of tax you paid is now taxable itself.