Tuesday, September 27, 2022


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Lynnley Browning

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...
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 Zones knocking, but few answering the call so far

NEW YORK – Investors eyeing President Donald Trump’s Opportunity Zones face a ticking clock if they want to fully capture one of the biggest...
THE IRS ISSUED guidance that companies can still deduct 50 percent of meals while entertaining clients and customers. Tax professionals had been unsure as to whether the deductions were still valid after the passage of the 2017 Tax Cuts and Jobs Act. / BLOOMBERG NEWS FILE PHOTO/GERALDINE HOPE GHELLI

You can still deduct a client’s meal on a night out,...

NEW YORK - The Internal Revenue Service is giving businesses a tax break they thought they had lost in the tax overhaul last year...
CONNECTICUT owners of so-called pass-through businesses currently have a workaround to the federal $10,000 SALT deduction limit due to a state law passed earlier this year. / BLOOMBERG NEWS FILE PHOTO/MICHAEL NAGLE

Connecticut’s SALT bypass offers hidden perk for money managers

NEW YORK - Hedge fund and private equity managers in Connecticut may have more to like about the state’s novel workaround for a new cap...

IRS targets loopholes for $415B business owner tax break

NEW YORK - The Internal Revenue Service provided some long-awaited answers for business owners hoping to dodge the limits on a juicy new tax...
THE IRS FILING SYSTEM was experiencing technical malfunctions on the final day for Americans to file taxes. / BLOOMBERG FILE PHOTO/DANIEL ACKER

IRS filing system has glitch as taxpayers race to meet deadline

NEW YORK - The U.S. Internal Revenue Service’s online filing system was experiencing malfunctions on Tuesday - the day tax returns are due for...

Trump in ‘beginning phases’ of tax talk as GOP mulls changes

NEW YORK - As President Donald Trump huddles with advisers over plans for a tax overhaul, Congress is considering options to soften a controversial...
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