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

THE IRS is looking to eliminate the remaining loopholes related to the state and local tax deduction cap. / BLOOMBERG NEWS FILE PHOTO/DANIEL ACKER
THE IRS is looking to eliminate the remaining loopholes related to the state and local tax deduction cap. / BLOOMBERG NEWS FILE PHOTO/DANIEL ACKER
NEW YORK - The Internal Revenue Service is considering issuing rules that could invalidate some of the last remaining strategies in New York and Connecticut to circumvent the state and local tax, or SALT, deduction cap that kicked in for the 2018 tax year. The IRS is “likely” to issue additional regulations to address high-tax…

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