Are there any special rules for deducting foreign state and local taxes?

The 2017 Tax Cuts and Jobs Act (TCJA) wisely capped the value of the SALT deduction at $10,000, which helped provide resources that were used to reduce tax ... Aug 25, 2021 ... The SALT deductions are limited by a new cap of. $10,000, effective 2018. The unique impact of the new SALT deduction cap on home prices is. Oct 19, 2017 ... The tax plan from President Trump and congressional Republican leaders would end the federal deduction for state and local taxes (SALT). Sep 14, 2021 ... Correa Statement on SALT deduction being excluded in reconciliation package. Washington, D.C. — Today, Congressman Lou Correa (D-CA) released ... Nov 2, 2021 ... ... SALT tax deduction as only helping “high-income households.” Sen. Bernie Sanders (D-VT) opposed efforts to restore the SALT tax shelter for ... Jan 11, 2022 ... Personal income tax itemized deduction for state and local taxes. (SALT). • Only taxpayers that itemize deductions may claim SALT deduction. Jan 5, 2022 ... I appreciate the work of Attorney General Tong and our Congressional delegation to restore the SALT deduction.” The lawsuit — which was ... Jan 17, 2018 ... Explain the new federal tax law's limit on the state and local tax (SALT) deduction. How does the limit impact Connecticut taxpayers and the ... Feb 8, 2025 ... We strongly urge you to include a full repeal of the State and Local Tax (SALT) deduction cap in any tax-related legislation brought to the ... Mar 1, 2023 ... The SALT deduction allows taxpayers to deduct state and local taxes paid from their federally taxable income, however the 2017 Tax Cuts and Jobs ...