While a few are hoping for a different outcome, most observers expect the IRS to disallow these new, intentional SALT workarounds that have been adopted by New York and a handful of other states.
7 min read
Virginia has an opportunity to improve its tax competitiveness following the Tax Cuts and Jobs Act. Inaction will result in higher taxes.
14 min read
The newly expanded standard deduction will reduce the time taxpayers spend working on Form 1040 by 4 to 7 percent, translating into $3.1 to $5.4 billion saved annually.
15 min read
Four states have brought a lawsuit against the federal tax bill claiming that its $10,000 cap on the state-local deduction is unconstitutional. Here’s why the lawsuit has little merit.
7 min read
How have federal tax expenditures changed since passage of the Tax Cuts and Jobs Act? We compare 2017 and 2018 Joint Committee on Taxation estimates.
8 min read
The new federal tax law left states with some important decisions to make. If they delay, their residents could face confusion come filing time.
4 min read
Iowa Gov. Kim Reynolds is on the verge of signing tax reform legislation that would greatly improve the state’s needlessly complex tax code.
6 min read
Congress should allow these tax extenders to expire and instead focus on making permanent features of the tax code that move it toward a more ideal system, such as full expensing.
12 min read
The threatened lawsuit may be more a political exercise than a legal one, as a judge is unlikely to rule that the SALT deduction cap violates either the Equal Protection Clause or the Tenth Amendment
14 min read
The proposal includes some good reforms, including conforming to the federal full expensing provision, but also rolls back some recent positive changes.
2 min read
