Some New Yorkers successfully prepaid some of their property taxes at the end of last year in a bid to ease the hit from a new federal cap on state and local tax deductions. Those who want to try to ease the pain this year may just have a few days left before the window closes.
The Internal Revenue Service took an important step Aug. 23 toward blocking the charitable workarounds high-tax states like New York approved in response to the tax law’s $10,000 limit. But the agency said the regulations take effect after Aug. 27, giving New York taxpayers ...