Tax deductions

The "no SALT no deal" Democrats appear ready to support the compromise reconciliation package negotiated in the Senate.

Tax accountants, financial advisors, private schools, and other organizations are advertising tax credits for donating to private K-12 voucher funds as ways to "sidestep," "bypass," "circumvent," or "mitigate" the impact of the federal SALT deduction cap, according to a survey.

State workarounds for the new $10,000 cap on the deduction for state and local taxes may present new legal issues for the service, nominee Charles Rettig says.

Currently at least 33 states provide 113 different tax credits that are already federally deductible.