Hank Gutman Quoted in WSJ Article on 2020 Tax FilingsPDF
IPB Counsel Hank Gutman spoke to the Wall Street Journal for the article, "Before Filing Your 2020 Taxes, Here Are Answers to Some Common Questions." One question received from readers concerned about 2020 filings was, "What are the chances that Congress will repeal or modify the $10,000 limit on state and local tax deductions and make changes retroactive to last year?"
"Repealing or altering this limitation is “a high priority for a number of Democrats,” says Hank Gutman, a former chief of staff of Congress’s Joint Committee on Taxation and now of counsel to the law firm Ivins, Phillips & Barker. Even so, the outlook remains blurry. But if lawmakers do take action, he says, “I can’t imagine [any changes] would be retroactive” to last year."