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State and Local Tax (SALT)

Politics
County Taxpayers Being Unfairly Targeted, Schumer Says In Westchester Visit County Taxpayers Being Unfairly Targeted, Schumer Says In Westchester Visit
County Taxpayers Being Unfairly Targeted, Schumer Says In Westchester Visit Standing with Westchester County homeowners, U.S. Senate Minority Leader Charles "Chuck" Schumer called on the IRS on Monday, June 25 to treat fairly a new state law aimed at reducing taxes.  In a letter to the IRS' acting commissioner, Schumer asked the federal agency to support the state law, which enables cash-strapped New Yorkers to ease the tax burden caused by a federal tax bill that capped State and Local Tax (SALT) deductions at $10,000.  New York tax law would allow residents to receive more tax credits for charitable donations to help reduce state and federal taxes.  Sc…

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by Jon Craig