Tax Notes Highlights House SALT Limitation
As we wrote recently, there’s lots to like about the House reconciliation package, but a dramatic expansion of B-SALT continues to give Main Street heartburn.
A new piece in Tax Notes lays out just how much pain the new regime would cause. Appropriately titled, “More SALTy Than Sweet?” the article beings:
Perhaps most importantly, the new SALT regime would allow for the continued viability of PTET regimes only in certain circumstances. However, PTET regimes would no longer be available in a variety of circumstances, and those circumstances are broader than an initial read might suggest.
Translation? Under the House bill, hundreds …
(Read More)