Income taxes

The move will permit a workaround for businesses to the $10,000 limit on state and local tax deductions in the Tax Cuts and Jobs Act.

GOP leaders may drop the effort for further tax legislation, fearing it could backfire by antagonizing voters in some hotly contested Congressional districts.

Lawmakers approved the measure this spring as a way to get around limits in the new federal tax law on state and local tax deductions.

French President Emmanuel Macron said he wanted “precise answers” before deciding whether to introduce pay-as-you-earn income tax withholding as planned next January.

The Internal Revenue Service and the Treasury Department are following up on their threat to forestall attempts by states to get around the $10,000 limit in the Tax Cuts and Jobs Act on deductions of state and local taxes by setting up state-run charitable contribution funds.

China and children; memories of McCain; building a practice’s brand; and other highlights from our favorite tax bloggers.

Taxpayers in New York and Connecticut still have a few potential options to avoid the hit from a new cap on state and local tax deductions, while residents of other high-tax jurisdictions may only have creative estate planning as a last resort.

The IRS is blocking the charitable workarounds high-tax states like New York approved in response to the tax law’s $10,000 limit.

The Internal Revenue Service put the tri-state area on notice: The charitable workarounds New York, New Jersey and Connecticut approved following the new federal cap on deductions for state and local taxes aren’t acceptable to the federal government.

Republicans thought the historic overhaul that slashed taxes would be one of their main campaign selling points ahead of November elections. Instead, Democrats are talking more about the law — and how they want to undo it.