Tag: corporate taxcuts

#MiddleClass Loses Tax Deductions to Pay for Corporate #TaxCuts???

State and Local Income Tax Deduction brendaslunch finance tax taxes taxreform middle class

The Tax Cuts and Jobs Acts of 2017 eliminates the state and local income tax deduction on Schedule A of Form 1040 federal returns. American taxpayers who itemize can no longer take this deduction to reduce their federal tax burden.

Tagged with: , , , , , ,