Sentences with phrase «old federal tax code»

Here's the problem: under the old federal tax code, the SALT deduction essentially was a discount equal to the marginal rate faced by itemizing taxpayers.

Not exact matches

Jerome Swartz, the 77 - year - old bar code innovator who co-founded Symbol Technologies Inc., is suing the federal government for about $ 300,000 after tax deductions he claimed — including one stemming from a $ 2 million investment in the movie «Love Ranch» — were disallowed by the IRS.

The possibility that Congress will succeed in a comprehensive reform of the federal tax code has lessened the value of the federal LIHTC, the most important tool to finance new affordable housing development and recapitalize older affordable housing properties.