Sentences with phrase «new federal tax code»

WASHINGTON — Next year, Long Islanders will be forced to cope with an almost totally new federal tax code, one that even Republican congressional tax writers behind the legislation acknowledge creates winners and losers.

Banks and investors expect a long - term boost from the new federal tax code, but the biggest lenders will first need to book multibillion - dollar charges.

On taxes, the budget contains changes intended to soften the blow of the new federal tax code, which will raise tax liabilities for many New Yorkers.

The budget includes his proposal to help those negatively impacted by the new federal tax code, which caps a deduction for state and federal taxes that is especially popular in high - tax states such as New York.

issued «to help ease the pain of the new federal tax code for homeowners expecting to see their taxes go up,» according to CBS New York.

The $ 168.3 billion budget passed by state lawmakers at the end of March includes changes to the tax codes issued «to help ease the pain of the new federal tax code for homeowners expecting to see their taxes go up,» according to CBS New York.

The new federal tax code limits a deduction for state and local taxes to $ 10,000.

That deduction has been especially popular in high - tax states like New York, meaning many homeowners will see significant tax increases under the new federal tax code.

By Dr. Louis Alpert Ombudsman Just last week, on February 22, 2018, Ombudsman - Alert discussed the bi-partisan federal legislation introduced by congresspersons Nita Lowey and Peter King to completely restore the SALT deductions, which was limited to 10K, in the new federal tax code, to begin in the tax year 2018!

NYS will offer tax credits for those who make charitable contributions to public education and health care to offset the new Federal tax code.

Gov. Andrew M. Cuomo, hours after the new federal tax code was signed into law last month, directed municipalities to accept prepayments of 2017 - 2018 second - half school and 2018 general taxes in the hopes that property owners could claim 2017 deductions for the prepayments.

Cuomo pushed to include some tax measures to help ease the pain of the new federal tax code for homeowners expecting to see their taxes go up.

Cuomo wants to overhaul the state tax system by swapping state income for payroll taxes, which remain deductible under the new federal tax code.

The new federal tax code sharply limits a deduction for state and local taxes.

Cuomo in his statement said the state tax department recently issued a report — a day after his budget plan was unveiled — detailing many of the «devastating impacts» of the new federal tax code, including the «negative consequences of having a tax code closely coupled with the federal tax system.»

Rep. John Faso, a Republican who has taken his share of criticism from Gov. Andrew Cuomo since taking office a year ago, fired back after the Democrat's State of the State speech on Wednesday, saying that Cuomo's complaints about the new federal tax code overlooks the longstanding problems that already drives New Yorkers to other states and hinders business.

State lawmakers are considering several options to respond to the new federal tax code's cap on state and local tax deductions.

TAX CHANGES: One big question in the budget is whether lawmakers will support Cuomo's ideas for easing the burden of the new federal tax code, which raises tax liabilities for many New Yorkers by capping a deduction for state and local taxes.

The new federal tax code significantly limits a popular deduction for state and local taxes, meaning many people in high - tax states such as New York could see big increases in...

ALBANY, N.Y. — Here's one way New York could fight back against the new federal tax code: allow people to make fully deductible charitable donations to the state in lieu of their state taxes.

Governor Andrew Cuomo unveiled his executive budget for the next fiscal year on Tuesday, centering his presentation around the threat to New York posed by the new federal tax code and possibilities for combatting it and other policies from Washington, D.C..

Gov. Andrew Cuomo on Friday claimed Abe Lincoln as an ally in his fight against the new federal tax code.

Just last week, on February 22, 2018, Ombudsman - Alert discussed the bi-partisan federal legislation introduced by congresspersons Nita Lowey and Peter King to completely restore the SALT deductions, which was limited to 10K, in the new federal tax code, to begin in the tax year 2018!

TAX CHANGES: Democratic Gov. Andrew Cuomo pushed to include some tax measures to help ease the pain of the new federal tax code for homeowners expecting to see their taxes go up.

TAX CHANGES: Cuomo pushed to include some tax measures to help ease the pain of the new federal tax code for homeowners expecting to see their taxes go up.

The new federal tax code limits local property tax deductions.

At issue is Section 89 of the new federal tax code enacted in 1986.

One of the more confusing provisions of the new federal tax code centers on how 529 - plan savings account money can be used.