One Year Later, Experts Dig Deeper to Find Vegas Shooter’s Motive
Theories emerge as officials struggle to find reason behind the deadliest mass shooting in modern U.S. history
https://archive.is/rAUqI
New York Towns Gearing Up to Fight IRS Ruling on Local Taxes
New federal code capped state and local tax deductions at $10,000, hurting some residents in the high-tax suburbs
https://archive.is/8XdHt
https://www.wsj.com/articles/new-york-towns-gearing-up-to-fight-irs-ruling-on-local-taxes-1538319601
The new federal tax code signed into law by President Trump in December put a $10,000 cap on state and local tax deductions, a change that has hurt some residents in New York’s high-tax suburbs.
State lawmakers approved a bill in March that allowed the creation of the charitable funds. Under New York’s law—which is similar to legislation adopted in New Jersey and Connecticut—localities can issue a taxpayer a credit against their property taxes for up to 95% of the amount donated to a designated charitable fund. New York may issue credits against state income tax for up to 85% of a donation.
But the IRS ruling in August that declared the charitable-donation structure unlawful has had a chilling effect, according to Gerry Geist, executive director of the state’s Association of Towns and a member of the coalition.