Sales Tax Deduction: Are U.S. Shoppers About to Lose a Big Tax Break?
Filed under: Taxes, Personal Finance, Shopping
With Black Friday just a few days away, shoppers across the nation are getting their wallets and pocketbooks ready to rumble. What many don’t realize, though, is that a lucrative tax break that was part of the shopping equation for them in previous years may disappear come January.
Until this year, the IRS allowed you to take a federal deduction for state and local sales taxes. But unless Congress extends that provision, shoppers could lose a pretty substantial deduction on their tax returns…
Sales Tax Deduction: Are U.S. Shoppers About to Lose a Big Tax Break? originally appeared on DailyFinance.com on 2012-11-20T10:00:00Z.
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