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The article says the local governments still need to OK it. Is TOB going to ok this after stating they wouldn’t and said you can’t prepay general taxes?
AND issue the paperwork and receive back by Dec 31st. Not many days "open" between now and then and I doubt they'd cancel vacation to accommodate the taxpayer...
Good point on the school taxes being 2017/18, so you can probably get away with that.
As for the prepayment in general... I don't think it is a matter of an ability to prepay 2018. It just that if you do prepay, the feds will not allow the deduction for 2017. Doesn't matter what Cuomo or the towns do - the feds already blocked the loophole.
Again, consult a tax professional once the law is signed. It may very well only apply to income taxes, although I don't know how many people can prepay 2018 income taxes.
Cuomo knows his constituents...same kind of people as those who didn't have flood insurance and got Sandy damage..."where is the government to help me"...."I never got flooded before"...."this isn't fair"...
Cuomo knows his constituents...same kind of people as those who didn't have flood insurance and got Sandy damage..."where is the government to help me"...."I never got flooded before"...."this isn't fair"...
I knew several people who HAD flood insurance and hence did not receive any NY Rising money for Sandy damage . And the $$ they received from their insurance companies was a fraction of the actual costs.
Town of Hempstead will be open this coming Saturday and Sunday (yes you read that correctly) to accept payments for the 2nd half school taxes and whatever you want to prepay for the 2018 general taxes. They won't be mailing the bills out, but you can call and find out your general tax amount and come in and pay it or send it in the mail....as long as its postmarked by Dec 31 it can count for 2017 deduction unless Trump/IRS comes up with something else...
This is way too funny.
The mass hysteria is off the charts.
Not really If I pay my school taxes now, I get back a extra $1511. If I pay the general also I get an additional $676 that's $2187 for paying something now instead of in Feb and Nov. I paid my school taxes last week I was the only one there. I am sure I won't be able to deduct the general but I will mail it in tomorrow. Trump can't stop the school tax deductions for Nassau since our bill where due Nov 10th 2017 and you had the option to pay in full.
This is way too funny.
The mass hysteria is off the charts.
It really is. For one, the irs may not allow the deduction, and two, it's unnecessary. 80 to 85% on li will just take the new standard deduction that has doubled, and get back what they always get back.
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