SALT deduction

President Joe Biden laid out what he called a “bold” plan to rebuild U.S. infrastructure, but now needs an equally ambitious effort to wrangle it through Congress in the face of Republican opposition and criticism from within his Democratic Party.

The Treasury Secretary said the limitation on state and local tax write-offs causes 'disparate treatment' across taxpayers.

Democrats will likely prove successful in raising individual income tax rates and in strengthening audits of wealthy Americans as they work on overhauling the U.S. Tax Code in coming months.

Some business owners can get hurt by workarounds to the $10,000 limit for state and local tax deductions.

Hopes among millions of upper-income and middle-class taxpayers for a repeal of the Trump administration’s limits on their federal deductions will likely be on hold for now, as an effort to include the measure in the COVID-19 aid package is poised to fail.

Two New Jersey Democrats are leading an effort to expand a valuable tax break for state and local levies in the next virus-relief package, a long-shot effort as lawmakers continue to squabble over the size and scope of the next round of stimulus.

New York, New Jersey, Connecticut and Maryland faced skeptical questioning from a panel of federal judges considering whether to revive a lawsuit that challenges a U.S. cap on individual deductions for state and local taxes.

Proposed regulations would allow partnerships and S corporations to exceed the $10,000 limit on state and local tax deductions imposed by the Tax Cuts and Jobs Act.

Businesses donating to charitable funds in exchange for a state tax credit can deduct those costs from their federal taxes, according to regulations released on Friday.

Business leaders and accountants should understand three significant SALT issues, if they're expecting an increase of remote employees working in new state or local tax jurisdictions this year.