Scrap Or Change SALT Rules, IRS Urged At Public Hearing

Law360 (November 5, 2018, 7:24 PM EST) -- The Internal Revenue Service and the U.S. Department of the Treasury should either scrap or significantly alter proposed regulations that would sharply limit states’ attempts to work around the $10,000 cap on state and local tax deductions and curtail deductions for charity donations, speakers told the agencies at a hearing Monday.

The IRS and Treasury have received more than 7,700 written comments on proposed rules to limit workarounds for a $10,000 cap on state and local tax deductions and curtail deductions for charity donations. (AP) Most of the 24 speakers who addressed a panel led by Scott K. Dinwiddie, IRS associate chief counsel...

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