June 2018 JD Supra

On May 23, 2018, IRS released Notice 2018-54 to inform Taxpayers that IRS, in the near future,  will be releasing  proposed regulations, to assist Taxpayers with understanding the relationship between federal charitable contribution deductions and the new statutory limitation on the deduction of state and local taxes – also known as the SALT deduction – which caps the deduction at $10,000.00 under the Tax Cut and Jobs Act (TCJA).    https://www.jdsupra.com/legalnews/taxpayers-ought-to-wait-for-irs-77094/