Residents of high-tax states like New York and New Jersey will no longer be able to bypass a $10,000 limit on federal deductions for state and local taxes.
New York, Connecticut, Maryland and New Jersey filed a lawsuit Tuesday claiming last year's tax overhaul violated the constitution by unfairly targeting Democratic states.
A top lawmaker in California introduced a bill this week to protect state residents who will be hurt by a new $10,000 cap on how much they may deduct in state and local taxes on their federal returns.
A lot of change is coming to taxes -- how much you'll pay and how you prepare them. Some people will pay more, some will pay less. It depends on many factors.