Today's Weekly Map looks at itemized deductionItemized deductions allow individuals to subtract designated expenses from their taxable income and can be claimed in lieu of the standard deduction. Itemized deductions include those for state and local taxes, charitable contributions, and mortgage interest. An estimated 13.7 percent of filers itemized in 2019, most being high-income taxpayers. s by state. There's a lot of talk in Washington these days about the possibility of imposing a cap on itemized deductions as a method of raising revenue without raising taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. rates. (Mitt Romney proposed a similar idea during the debates last month and the idea is now viewed as a possible compromise method of tax increases.) Which states would be affected the most? Maryland taxpayers claim the most itemized deductions, and North Dakotans the least.
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