IRS allows some businesses to skirt cap on state and local tax deductions

The Internal Revenue Service plans to issue proposed regulations to allow partnerships and S corporations to exceed the $10,000 limit on state and local tax deductions imposed by the Tax Cuts and Jobs Act.

Original Article Posted at : https://www.accountingtoday.com/news/irs-allows-some-businesses-to-skirt-cap-on-state-and-local-tax-deductions

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