Withum

JULY 4, 2025

This would provide that an amended return be filed for 2022, and 2023. If a 2024 tax return has already been filed, then an amendment would be required. Amounts continued to be adjusted until the the state and local tax cap will revert to $10,000 in the 2029 taxable year.

income tax 119

income tax Tax Kentucky Agriculture 119

Withum

MAY 13, 2025

In addition, the House provision does not make this change permanent, but rather extends the immediate deduction of domestic R&E expenses to December 31, 2029. Under the House proposal, specified taxes are limited at the individual income tax return to a maximum deduction of $30,000 (or $15,000 for a married filing separate return).

Tax 122

Tax income tax Real Estate tax return 122

Withum

MAY 13, 2025

In addition, the House provision does not make this change permanent, but rather extends the immediate deduction of domestic R&E expenses to December 31, 2029. Under the House proposal, specified taxes are limited at the individual income tax return to a maximum deduction of $30,000 (or $15,000 for a married filing separate return).

Tax 96

Tax income tax Real Estate tax return 96