IRS Notice On SALT Workarounds Causes More Confusion
Law360 (September 6, 2018, 8:38 PM EDT) -- The U.S. Department of the Treasury and the Internal Revenue Service have issued what they termed a clarification on state and local tax deduction workaround regulations, but that follow-up notice, which one practitioner called “incoherence,” instead left tax professionals scratching their heads.
The U.S. Department of the Treasury's attempt to clarify regulations about state and local tax deduction workarounds have not been very clear. (AP) The notice, issued Wednesday, was a follow-up to the IRS’ eagerly awaited Aug. 23 notice of proposed regulations on SALT workarounds, which not only curtailed efforts by blue states to create such workarounds but also swept in many...
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