{"id":3273,"date":"2019-06-13T17:00:03","date_gmt":"2019-06-13T21:00:03","guid":{"rendered":"http:\/\/www.musingsbymichael.com\/blog\/?p=3273"},"modified":"2019-06-13T17:00:03","modified_gmt":"2019-06-13T21:00:03","slug":"can-not-dodge-the-tax","status":"publish","type":"post","link":"http:\/\/www.musingsbymichael.com\/blog\/2019\/06\/13\/can-not-dodge-the-tax\/","title":{"rendered":"Can not dodge the tax"},"content":{"rendered":"
\"NJ<\/a>
NJ property taxes too high!<\/figcaption><\/figure>\n

Well the IRS has ruled that you can not dodge the tax deduction limit for property taxes by paying it to a charity.<\/span><\/p>\n

From NJ Spotlight<\/a>, \u201cNew regulations by the Internal Revenue Service significantly undercut \u2014 at least for now \u2014 a New Jersey law that was enacted last year to help residents get around the capping of the long-cherished SALT deduction for state and local taxes. <\/i><\/span><\/p>\n

The action taken by the IRS this week drew immediate condemnation from Gov. Phil Murphy and other elected officials who backed the law, and it will likely trigger another a lawsuit involving New Jersey Attorney General Gurbir Grewal and the federal government. <\/i><\/span><\/p>\n

Grewal previously threatened to sue<\/a> the IRS if it moved to undermine the state\u2019s so-called workaround law, which gave local governments a way to reclassify most property-tax payments as charitable contributions after the federal SALT deduction was capped at $10,000. In a statement posted on social media in response to the latest IRS action, Grewal said, \u201cI remain as committed as ever to challenging the IRS in court.\u201d<\/i>\u201d<\/span><\/p>\n

So Murphy and Grewal have taken offense with the fact that they can not do (what I call) their parlor trick and want to sue the IRS. Well that is just stupid! A waste of the taxpayers money and they know it. I think that they just want to get the credit for standing up to Trump and the Republicans.<\/span><\/p>\n

What needs to happen of course is for the property tax to be reduced to reasonable levels. Anything else is and will never be satisfactory.<\/span><\/p>\n

That is my opinion- Jumpin Jersey Mike<\/span><\/p>\n