Tax

Thursday is the deadline for sending comments to the IRS on its proposal to prevent taxpayers from avoiding the $10,000 federal cap on state and local tax deductions that Congress enacted last December.

GFOA's Emily Brock discusses whether tax reform was a game changer for municipal bonds.

Changes in tax rates made mutual funds, not banks, the main driver of demand on the long end. The change has had the effect of pushing yields on long-term munis higher.

Opponents say passage of Amendment 5 in November would threaten Florida’s ability to fund state priorities and its triple-A ratings.

Another wave of states is expected to begin implementation Jan. 1, according to the National Conference of State Legislatures.

Salt Lake City will bring $875 million of revenue bonds this month for its airport.

The Protecting Family and Small Business Tax Cuts Act of 2018 which passed 220 to 191 isn’t expected to become law because the Senate won’t consider it this year.

The two regulatory agencies are working to ensure a seemless transition to another benchmark when Libor is phased out in 2021.

Incoming NABL president Dee Wisor wants the group to be more active in Washington.

House Republicans will vote Thursday or Friday on tax reform legislation that would make permanent the $10,000 federal cap on the deduction for state and local taxes and individual income tax rate reductions.

The coalition is sponsoring a campaign fundraiser for Rep. Richard Neal of Massachusetts, the ranking Democrat on the House Ways and Means Committee.

The threat of lower tax revenues after the IRS denied the SALT tax workaround isn’t the only worry.

Thirty states told the Council of Development Finance Agencies they issued mortgage revenue bonds in 2017 compared to only 18 that issued mortgage credit certificates.

The agreement will provide the team $135 million from lodging taxes for the upkeep of Safeco Field, a deal some County Council members call corporate welfare.

States reported a 20.2% jump in the issuance of private activity bonds from the $20.4 billion issued in 2016.

Bitvore, a provider of market intelligence geared to public sector debt and commercial lending professionals, added to its Daily Brief reports to meet demand for information on changes to tax laws and regulations.

Companies repatriated $169.5 billion in the second quarter, according to data released Wednesday by the Commerce Department

House Republicans want to make permanent the $10,000 cap on state and local tax deductions and the lower tax rates for individuals, both of which are due to expire at the end of 2025.

The report found that 61% of the 341 finance officers who participated in the survey anticipate negative future impacts on their city's financial health from the termination of advance refundings, while 35% said they already have seen negative impacts.

New York Gov. Andrew Cuomo sent letters to the Internal Revenue Service and to Treasury's Inspector General for Tax Administration threatening litigation and and asking for a probe of alleged undue political interference.