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Laura Davison

NEW YORK, NEW JERSEY and Connecticut have sued President Donald Trump’s administration over a provision in the 2017 tax law that limited write-offs for state and local taxes. / BLOOMBERG FILE PHOTO/ANDREW HARRER

N.Y., N.J. & Conn., pursue another battle in SALT deduction war

NEW YORK – New York, New Jersey and Connecticut are again suing President Donald Trump’s administration over a provision in the 2017 tax law...
A REPEAL OF the state and local taxes cap would lower the burden for households earning at least $1 million by $40.4 billion, or 52% of the $77.4 billion in additional tax breaks that the repeal would provide, according to the Joint Committee on Taxation. / BLOOMBERG NEWS FILE PHOTO/MICHAEL NAGLE

SALT cap repeal would be $40B windfall for millionaires

WASHINGTON – More than half of the benefit of repealing the $10,000 deduction cap for state and local taxes would go to millionaires, according...
U.S COMPANIES REPATRIATED $876.8 billion from the Republican overhaul of the international tax system and the end of the first quarter of 2019. President Donald Trump said $4 trillion would return as a result of the law. / BLOOMBERG FILE PHOTO/ANDREW HARRER

Corporate America is repatriating a fraction of foreign profits

WASHINGTON – Corporations brought $100.2 billion of overseas profits back to the United States in the first quarter, marking $876.8 billion that has returned...
CHARITABLE GIVING by individuals in the U.S. fell an estimated 3.4%, after adjusting for inflation, last year, following changes in the 2017 Republican tax overhaul, according to a report released Tuesday by Giving USA. / BLOOMBERG NEWS FILE PHOTO/DANIEL ACKER

Trump’s tax law made Americans less charitable, nonprofits say

WASHINGTON – Americans gave less money to charities last year partly because the Republican tax law changes made many people ineligible for tax breaks...
EFFORTS TO RAISE the cap on SALT deductions or to create workarounds for taxpayers in high tax states are not expected to succeed. / BLOOMBERG FILE PHOTO/ MICHAEL NAGLE

It’s over: States lose fight against SALT deduction cap

WASHINGTON – New York, New Jersey and Connecticut have been fighting a new cap on state and local tax deductions ever since it was...
DONALD TRUMP'S tariffs already in effect cost the average household about $831, according to research from the New York Federal Reserve, about $100 less than the an average tax cut of $930 for middle earners./ BLOOMBERG NEWS FILE PHOTO/QILAI SHEN

Trump’s tariffs have wiped out most families’ tax cut gains

NEW YORK – President Donald Trump’s trade wars have already wiped out all but $100 of the average American household’s windfall from Trump’s 2017...
THERE ARE 25 approved Opportunity Zones in Rhode Island, including Downtown Providence and much of the city's waterfront.. / COURTESY R.I. COMMERCE CORP./GOOGLE INC.

Opportunity Zone rules aim to draw capital to distressed areas

NEW YORK – It will be easier to invest in businesses and real estate in low-income communities throughout the United States now that the...
CORPORATE AMERICA brought $664.9 billion of offshore profits back to the United States in 2018, short of the $4 trillion President Donald Trump said would return as a result of the 2017 tax overhaul. / BLOOMBERG NEWS FILE PHOTO/AL DRAGO

President’s offshore cash promise falters as $665B returns

NEW YORK - Corporate America brought $664.9 billion of offshore profits back to the United States last year, falling short of the $4 trillion...
THE AVERAGE federal tax refund average was about $3,008 for the week ending March 8, $4 more than the previous year. The IRS estimates it will ultimately issue about 2.3 percent fewer refunds this year as a result of changes to how much were withheld from paychecks. / BLOOMBERG NEWS FILE PHOTO

Average tax refunds about $3K as filing season hits midpoint

NEW YORK - The IRS has sent out 3.3 percent fewer tax refunds so far this year, but the average refund size continues to...
THE IRS is looking to eliminate the remaining loopholes related to the state and local tax deduction cap. / BLOOMBERG NEWS FILE PHOTO/DANIEL ACKER

IRS Looks for Ways to Squelch N.Y., Connecticut SALT Workarounds

NEW YORK - The Internal Revenue Service is considering issuing rules that could invalidate some of the last remaining strategies in New York and...
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