Republican lawmakers in the House appeared to have reached a new agreement late Tuesday on the state and local tax deduction, ...

The 'One Big Beautiful Bill Act' aims to increase the SALT deduction cap from $10,000 to $40,000, promising relief for ...

The budget bill passed by the House includes a provision to quadruple the state and local tax deduction, a boon for some ...

The SALT deduction, as it is known, enables federal income tax filers ... The cap had an even greater impact on taxpayers in the top 1%, whose average tax cut was $40,100, instead of $71,000. But ...

Prior to the Tax Cuts and Jobs Act (“TCJA”), there was no direct limitation on an individual taxpayer’s deduction of his or ...

The tax bill passed by the House of Representatives on May 22, called the “One Big Beautiful Bill Act,” has more than 1,000 ...

On May 22, 2025, the House of Representatives passed the One Big Beautiful Bill Act (OBBBA). Tax-related proposals contained in the OBBBA would ...

The version passed by the House increases that deduction limit to $40,000. The increase was a big point of contention for ...

The institute is asking lawmakers to change provisions on SALT deductions for pass-through entities, contingency fees for tax ...

California Republicans were pleased that lower- and middle-income residents will be able to deduct more of their state and ...

The SALT deduction, as it is known, enables federal income tax filers to deduct either their state and local income taxes or their state and local general sales taxes. In addition, they are also ...