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News & Current Events Discuss U.S. Supreme Court snubs challenge to state and local tax deduction cap at the General Forum; This is good news. Hopefully one day no one will be allowed to deducted any local and state federal taxes ...

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Old 04-18-2022, 07:24 PM
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Default U.S. Supreme Court snubs challenge to state and local tax deduction cap

This is good news. Hopefully one day no one will be allowed to deducted any local and state federal taxes on their federal taxes. If states want to have high taxes then they should have to deal with the consequences of that.

https://www.msn.com/en-us/news/us/us...KYl?li=BBnb7Kz

The U.S. Supreme Court on Monday rejected a bid by four Democratic-leaning states to lift a cap on federal deductions for state and local taxes put in place as part of a 2017 tax overhaul under Republican former President Donald Trump.

The justices turned away an appeal by New York, Connecticut, Maryland and New Jersey after a lower court threw out their lawsuit. The lower court held that the U.S. Congress had broad authority over taxes and did not violate the U.S. Constitution by placing a $10,000 limit on the amount of state and local taxes that individuals may deduct on federal income tax returns.
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Old 04-18-2022, 11:08 PM
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Default Re: U.S. Supreme Court snubs challenge to state and local tax deduction cap

I don't see what the plantiffs' argument was...
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Old 04-19-2022, 06:45 AM
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Default Re: U.S. Supreme Court snubs challenge to state and local tax deduction cap

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Originally Posted by cnredd View Post
I don't see what the plantiffs' argument was...
There argument was that it made them look bad for keeping high taxes in their states. They want to blame Trump.
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Old 04-20-2022, 07:13 AM
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Default Re: U.S. Supreme Court snubs challenge to state and local tax deduction cap

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Originally Posted by GetAClue View Post
There argument was that it made them look bad for keeping high taxes in their states. They want to blame Trump.
A cousin who still lives in NJ, was beyond angry when the cap kicked in, claiming it was unfair that Trump, her arch nemesis, could do such a thing.

This same cousin, rants and raves about everybody paying their fair share of taxes.....
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