November 18, 2020
CNBC quoted Tax Principal Michael D’Addio in an article about a workaround approved by the IRS enabling owners of pass-through entities to avoid the $10,000 cap on the federal deduction of state taxes.
CNBC
By Darla Mercado
Excerpt:
Owners of pass-throughs [in Connecticut] might want to amend their old returns, said Michael D’Addio, principal at Marcum LLP. “If you didn’t take the deduction at the entity level because you were worried the IRS wouldn’t allow it, go see if there’s a refund opportunity,” he said.
