Misguided Relief: the Real Property Tax Addition to the Standard Deduction
7 Pages Posted: 1 Jul 2009
Date Written: June 26, 2009
A recent temporary addition to the standard deduction distributes a limited tax benefit to a subset of nonitemizing taxpayers based on real property tax payments. The provision sacrifices some of the standard deduction’s simplicity, costs more than a billion dollars annually and makes inequitable distinctions. Congress should fail to renew it.
Keywords: tax, income tax, standard deduction
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