Episode 122

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Published on:

16th Nov 2020

Did the IRS Bless the Passthrough Entity Workaround to the $10K SALT Cap?

For three years, states and taxpayers have been looking for novel ways to get around the federal TCJA's $10,000 cap on deducting state and local taxes. The IRS just released Notice 2020-75, which appears to bless states' passthrough entity tax workaround regimes. But there is a lot more below the surface. There will be winners, losers, and continuing ambiguity. Matt Hunsaker breaks down the issues.

Questions & Comments: mhunsaker@bakerlaw.com

bakerlaw.com/matthunsaker

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About the Podcast

The State Tax Show
Weekly SALT Update
The State Tax Show is for the busy tax professional trying to stay up-to-date on the crazy world of state and local taxation (SALT). BakerHostetler partner, Matt Hunsaker, has been podcasting on state tax issues for years. Each week, he leads a lively discussion of the latest cutting-edge SALT issues. Come join the fun!