New York City is once again considering a major shift in how it taxes high-value real estate—specifically, luxury second homes owned by non-residents. The proposal, commonly referred to as a “pied-à-terre tax,” would impose an additional annual surcharge on certain…
Interest on Home Equity Loans Still Deductible Under New Law The Internal Revenue Service today advised taxpayers that in many cases they can continue to deduct interest paid on home equity loans. Responding to many questions received from taxpayers…