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Keeping Your Balance: Taxability of state and local tax refunds in 2019

Now that tax season is over, it is time to look to the 2019 tax filing season. In March, the IRS issued Rev. Rul 2019-11 addressing State and Local Tax (SALT) refunds and their taxability in light of the limit on SALT to $10,000 under the Tax Cuts and Jobs Act (TCJA). This Revenue Ruling ...

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