The House’s deal to raise the cap on state and local tax (SALT) deductions to $40,000 may not make it through the Senate, according to Senate Majority Leader John Thune. While the chamber has just begun deliberations on President Donald Trump’s sweeping tax bill, Thune’s office has already indicated that the SALT provision will likely need to be revised. 

Baker Tilly Advisory Group, which has combined with Moss Adams, is working to establish a powerful national brand for its clients in the middle market. Baker Tilly is leveraging private equity investment to broaden its service offerings while upgrading its technology.

The IRS’s proposal to withdraw a Biden-era rule targeting partnership basis-shifting transactions is being met with cautious approval from tax professional, but the door isn’t fully closed.