2/37ths Limitation on Itemized Deductions Topic of White Paper From CRS
May 01, 2026
May 01, 2026
WASHINGTON, May 1 (TNSLrpt) -- The Congressional Research Service issued the following Insight white paper (No. IN12686) on April 30, 2026, by public finance analyst Nicholas E. Buffie.
Here are excerpts:
* * *
The 2/37ths Limitation on Itemized Deductions
In July 2025, as part of the FY2025 reconciliation law (P.L. 119-21), Congress enacted a new limitation on itemized tax deductions for high-income taxpayers. This Insight describes itemized t . . .
Here are excerpts:
* * *
The 2/37ths Limitation on Itemized Deductions
In July 2025, as part of the FY2025 reconciliation law (P.L. 119-21), Congress enacted a new limitation on itemized tax deductions for high-income taxpayers. This Insight describes itemized t . . .