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U.S. Tax Litigation Update — The President’s Tax Returns and the New S.A.L.T. Cap

Volume 6 No 8    |    Read Article

By Nina Krauthamer

Politics on the national and local levels in the U.S. have become a form of blood sport with no holds barred and no code of conduct that is equivalent to the Marquess of Queensberry rules that controlled the sport of boxing in England from 1867 onward. This is evidenced by various political battles between President Trump and the Democrats in the House of Representatives and in state government. Those battles have moved to Federal court. Issues involve the disclosure by government of the president’s tax returns, the $10,000 cap imposed on deductions claimed for state and local income and real property taxes, and state proposed workarounds to ignore the cap. Nina Krauthamer looks at all the head-spinning activity currently taking place. Yes, bare-knuckle boxing as practiced by politicians in the U.S. is alive and well.   See more →