Treasury issues rules taking aim at blue-state workarounds to GOP tax law

ㅤ"The guidance is designed to curb taxpayers’ ability to use charitable donations to get around the law’s $10,000 cap on the state and local tax (SALT) deduction.
ㅤ’Congress limited the deduction for state and local taxes that predominantly benefited high-income earners to help pay for major tax cuts for American families,’ Treasury Secretary Steven Mnuchin said in a statement Thursday. ‘The proposed rule will uphold that limitation by preventing attempts to convert tax payments into charitable contributions.’"

Full story at The Hill, image from cnn(.com) – 8/23/18. See "blue-state, salt, conservative, politics."

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