Popular Tags
Feds Block Tax Breaks for Donating to these Charitable State Funds
Friday, June 14, 2019 in Press
- The Tax Cuts and Jobs Act applied a $10,000 limit on taxpayers’ ability to write off their state and local taxes, which prompted some states to establish charitable funds.
- The Treasury and IRS issued final rules on Tuesday to address these workarounds, largely putting a stop to blue states’ new charitable funds.
- The regulation also dampens pre-existing charitable tax credit programs in 33 states.
The Internal Revenue Service and the Treasury Department have issued final rules blocking certain states’ attempts to work around the new $10,000 cap for state and local tax deductions.
Read more at CNBC.com
Back to All News
Recent News
Click on the link below to read the latest IMET Monthly Newsletter:
IMET AUGUST 2026 Monthly Newsletter
Read moreThe August 2026 Market Overview provides the latest updates on economic growth, inflation, employment, and Federal Reserve rate expectations.
Read moreClick on the link below to read the latest IMET Monthly Newsletter:
IMET July 2026 - Monthly Newsletter
Read moreBased on GFOA best practices, this article explains how public agencies can evaluate investment portfolio performance and use a scorecard to track safety, liquidity, return, and overall policy objectives.
Reporting on the Performance of Public Investment Portfolios
Read more