The SALT deduction, as it is known, enables federal income tax filers to deduct either their state and local income taxes or their state and local general sales taxes. In addition, they are also ...

Two weeks after President Donald Trump’s sweeping tax bill passed the House with razor-thin margins, the Senate has begun to ...

The 'One Big Beautiful Bill Act' faces hurdles as debate over the SALT deduction intensifies, with Senate Republicans pushing ...

House lawmakers on Thursday morning passed changes for the federal deduction for state and local taxes, known as SALT, as part of President Donald Trump’s tax package. Enacted via the Tax Cuts ...

The tax deduction was crucial to getting the bill through the House. Senate action would set up a showdown with blue state ...

For instance, Rep. Josh Gottheimer (D-NJ) cast his lobbying effort as a “fight to ensure the full SALT deduction is returned in full … ” This is misleading, though. In fact, for most high ...

That means that if your income is above $500,000, the amount of SALT deduction you can claim starts to shrink. However, the proposal could still change in the Senate. Here’s what you need to ...

A letter from the AICPA and CPA societies in 53 states and jurisdictions criticizes the provision in the House version of the ...

It’s a non-starter with representatives in the House’s so-called “SALT Caucus,” who have campaigned for years to repeal completely the $10,000 limit on the deduction for federal income taxes.

Prior to the Tax Cuts and Jobs Act (“TCJA”), there was no direct limitation on an individual taxpayer’s deduction of his or her state and local taxes (“SALT”) on the federal individual ...

House lawmakers on Thursday morning passed changes for the federal deduction for state and local taxes, known as SALT, as part of President Donald Trump's tax package. Enacted via the Tax Cuts and ...