Letter to IRS on Section 1001 Regulation in 2023-2024 Priority Guidance Plan – ITEP
Read as PDF Re: Recommendation for Inclusion of Section 1001 Regulation in 2023-2024 Priority Guidance Plan To Whom It May…| ITEP
Read as PDF Re: Recommendation for Inclusion of Section 1001 Regulation in 2023-2024 Priority Guidance Plan To Whom It May…| ITEP
The IRS recently proposed a commonsense improvement to the federal charitable deduction. If finalized, the regulation would prevent not just the newest workarounds to the $10,000 deduction for state and local taxes (SALT), but also a longer-running tax shelter abused by wealthy donors to private K-12 school voucher programs. ITEP has submitted official comments outlining four key recommendations related to the proposed regulation.| ITEP
Wealthy families are overwhelmingly the ones using school voucher tax credits to opt out of paying for public education and other public services and to redirect their tax dollars to private and religious institutions instead. Most of these credits are being claimed by families with incomes over $200,000.| ITEP
