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Tag: federal incomne tax

IRS issues notice on state and local tax deductions

Posted on May 23, 2018May 23, 2018

The U.S. Department of the Treasury and the Internal Revenue Service issued a notice addressing the deductibility of state and local tax payments for federal income tax purposes. Notice 2018-54 also informs taxpayers that federal law controls the characterization of the payments for federal income tax purposes regardless of the characterization of the payments under state law.

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