The U.S. Department of the Treasury and the Internal Revenue Service issued final regulations on June 11, 2019 (effective August 12, 2019) relating to the relationship between Charitable Contribution Deductions and State and Local Tax (SALT) credits. An overview of the SALT deduction cap imposed by the Tax Cuts and Jobs Act and a summary of the final regulations and their impact are included in this presentation.
If you have any questions regarding SALT deductions and credits, charitable contributions and state workarounds, please contact David Freda.
