Can non-cash payments of state and local taxes be deducted?

Mar 17, 2023 ... “The SALT Deduction Fairness Act would ensure that limits on SALT deductions do not disproportionately and unfairly penalize married filers by ... Sep 30, 2024 ... According to the Treasury Department, the SALT cap has prevented more than 11 million Americans from deducting over $300 billion in state and ... Jan 9, 2025 ... The SALT Fairness for Working Families Act would help save taxpayers money by increasing the SALT deduction cap to $15,000 and eliminating 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 ... Sep 14, 2021 ... Correa Statement on SALT deduction being excluded in reconciliation package. Washington, D.C. — Today, Congressman Lou Correa (D-CA) released ... Apr 3, 2025 ... The SALT deduction shifts some of the burden of state and local taxes from taxpayers to the federal government. By reducing the deduction's ... Aug 9, 2024 ... The 2017 Tax Cuts and Jobs Act (TCJA) imposed a $10,000 cap on SALT deductions, putting some of the most stringent limitations on the deduction ... Jul 8, 2022 ... For Virginia income taxes, the electing qualifying PTE and the PTE's owners are required to add-back their respective federal deductions for ... Jan 16, 2025 ... ... deduction, so the loss of SALT deductions significantly undercut any 199A benefit. For reasons unknown, the TCJA did not extend the SALT cap ... Feb 8, 2025 ... The SALT deduction prevents residents from being taxed twice on the same income while ensuring state and local officials have the resources to ...