Tax practitioners in the Nutmeg State are cautioning clients that the IRS may still issue guidance to shut down the
SALT cap workaround
with regards to passthrough entities.
The Iowa Department of Revenue has
implementing the temporary nonconformity of Iowa’s tax laws to the federal repeal of gain or loss deferral from exchanges of like-kind personal property in tax year 2018.
An August 8
Technical Information Release
explains the implications of two recent state bills on “deemed repatriation income,” as amended by the TCJA.
Department of Revenue reminds taxpayers who are in the midst of
back to school shopping
to save those receipts for claiming the K-12 Education Credit or Subtraction on their taxes in 2019.
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