Itemized Deduction Amounts News Today

On November 8, 2022, voters in several states considered whether to approve state income tax changes. Specifically, voters in Massachusetts voted to impose a 4 percent personal income...

On November 8, voters in Massachusetts voted to impose a 4 percent personal income surtax on income above $1 million; voters in Colorado voted to further limit federal itemized deduction amounts that could be used to reduce taxable income for those making above $300,000