HR 4803
115th Congress
House
Taxation
Income tax deductions
Property tax
State and local taxation
Tax administration and collection, taxpayers
SALT Prepayment Deductibility Act
Introduced: January 16, 2018
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 16, 2018
Referred to the House Committee on Ways and Means.
Jan 16, 2018
Introduced in House
Plain-English summary
SALT Prepayment Deductibility Act
This bill specifies that, for the purpose of the federal tax deduction for certain state and local taxes, amounts paid in 2017 for real property taxes assessed for 2018 must be treated as paid or accrued within 2017.
(Under current law, individual deductions for certain state and local taxes are limited during 2018-2025 to $10,000 per year for individuals or $5,000 for married individuals filing a separate return.)
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1