Ivins attorney Lawrence Axelrod's article, "Are Prepaid Property Taxes Properly Deductible?" was recently published in the Tax Practice section of Tax Notes.
"In response to the flood of taxpayers paying their 2018 anticipated property taxes before the end of 2017 in hopes of avoiding the $10,000 limitation on the deductibility of state and local taxes that takes effect in 2018, the IRS issued an advisory. Dated December 27, 2017, the advisory concludes that 'a payment of anticipated real property taxes that have not been assessed prior to 2018 are not deductible in 2017.' That conclusion is debatable."