Cap On Salt Taxes 2025

Cap On Salt Taxes 2025. The salt cap was one of the major revenue offsets of tcja and, like many other individual tax provisions of the law, it is set to expire after 2025. This transcript has been edited for length and clarity.

In 2017, the tax cuts and jobs act overhauled federal tax code, capping the salt deduction at $10,000 per year for property taxes plus state income or sales taxes. most of the changes made in. The movement to roll back limits on how much state and local taxes americans can deduct on their federal returns took a hit wednesday when a vote to advance a salt relief bill failed in the.