The IRS has announced that it intends to issue proposed regulations regarding the federal tax treatment of payments made by individuals to funds controlled by state and local governments in exchange for credit against state and local taxes (SALT). Some state legislatures have adopted or are considering such proposals as means to get around the […]
The post IRS to Propose Rules on Transfers Made to Avoid New Limit on SALT Deductions (Notice 2018-54) appeared first on Tax & Accounting Blog.