Income taxes

House Democrats are looking to find a compromise solution to the Republican tax law’s cap on the amount of state and local levies that can be written off a federal return, a limit they say has caused their constituents to lose out on billions of dollars of deductions.

The rally in the $3.8 trillion municipal-bond market is about to face a major tax-season test.

The Internal Revenue Service issued guidance Friday on how to deal with state and local tax refunds in the context of the $10,000 limit on state and local tax deductions under the Tax Cuts and Jobs Act.

Politicians in mostly Democratic high-tax areas say the new federal cap on state and local tax deductions hurts their residents, but most never got it in the first place.

The Financial Accounting Standards Board is proposing to make further changes in the income tax disclosure requirements for companies to make them more relevant to users of financial statements.

A new limit on the amount of state and local levies that can be deducted has costly and confounding implications for some, especially in high-tax places.

The Institute for Professionals in Taxation will hold its two State Income Tax Schools this July in Hartford, Conn. for SALT professionals.

The main tax revenue for U.S. states declined by an average of almost 2 percent during the last three months of 2018 from the same quarter a year earlier.

The Internal Revenue Service is considering issuing rules that could invalidate some of the last remaining strategies in New York and Connecticut to circumvent the state and local tax, or SALT, deduction cap that kicked in for the 2018 tax year.

Politicians from New York, New Jersey and other high-tax states may be making a lot of noise, but the new $10,000 limit on deductions for state and local taxes, or SALT, isn’t going anywhere any time soon.