PTET SALT deduction: AICPA’s “No. 1 priority”

Note: This episode was recorded on Wednesday, May 21, 2025, prior to the House of Representatives vote early Thursday morning May 22, 2025 — 215 in favor, 214 opposed, 1 voting present. See this Journal of Accountancy (JofA) article for updates on the bill that occurred overnight prior to the vote.

In this joint episode with the JofA podcast, host Neil Amato discusses with Melanie Lauridsen, Vice President of Tax Policy & Advocacy for the AICPA, the AICPA’s perspective on several aspects of the budget bill that was voted and approve by the House of Representatives in the early morning hours of May 22, 2025.

 

What you’ll learn from this episode:

· An explanation of the pass-through entity tax (PTET) state and local tax (SALT) deduction

· Some of the AICPA “wins” in the legislation

· The top concern from a survey of members just after tax filing season

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