Treasury issues final rules to block blue-state workarounds to SALT deduction cap

Treasury issues final rules to block blue-state workarounds to SALT deduction cap

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David L. Thompson, vice president of public policy for the National Council of Nonprofits, said that “wherever you are in the country or on the political spectrum, there is something to upset everyone in the IRS rule released today.”

“It blocks SALT workarounds, it limits the value of state credits, and, even in stepping back from a very harsh draft proposal, it caused taxpayers during the last months of 2018 not to make donations to worthy and needed work of charitable nonprofits in communities throughout the country,” he said.

Source Name: 
The Hill
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