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Mnuchin Targeted State, Local Tax Workaround, Democrats Say

Feb. 27, 2019, 4:49 PM

House Democrats released a report Feb. 27 detailing the Treasury Department’s process to issue guidance to block state and local tax workarounds.

  • The report, from the Treasury Inspector General for Tax Administration, is the full version of a redacted document released Feb. 26.
  • The report found that nearly 10.9 million taxpayers will be affected by a change in the 2017 tax overhaul that limits the deduction for state and local taxes, or SALT, to $10,000.
  • New York, New Jersey and California had considered state law changes that would create ways for taxpayers to mitigate SALT hit.
  • “Treasury Secretary Mnuchin played ...