SALT deduction

The senator said she’d seek to repeal all of the tax overhaul, including its breaks for wealthy earners, corporations and the middle class.

President Donald Trump said that New Yorkers could have thwarted a provision in his tax law that limits state and local tax deductions, one of the most controversial changes in the 2017 overhaul that contributed to Republican losses in the 2018 midterms.

The Democratic presidential candidate and New Jersey senator released 10 years of tax returns, showing he faced a new cap on deductions of state and local taxes.

Surveys show just one-fifth of taxpayers believe their taxes have gone down.

A new limit on state and local tax deductions isn’t forcing taxpayers to leave some states, according to Moody’s Investor Service.

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.

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.