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Keyword: taxhellholes

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  • Audit: More than 10 million Americans feeling SALT cap pain

    03/03/2019 8:27:30 PM PST · by GuavaCheesePuff · 124 replies
    newsday ^ | February 26, 2019 | Robert Brodsky
    Nearly 11 million Americans nationwide would have been capped from deducting more than $323 billion in state and local taxes in 2017 because of changes enacted in the GOP's tax reform legislation, according to an audit released Tuesday by the Treasury Inspector General for Tax Administration — and expect similar results for the 2018 tax year. The 28-page report offers a new window into the full scope of the $10,000 cap on SALT deductions, which is supported by the White House and top congressional Republicans but has been heavily criticized by the leaders of many high-tax Democratic states, including New...