Re: pre-paying 2018 taxes

Posted by jerseymom on 2017/12/28 16:12:00
By Terrence T. McDonald
The Jersey Journal

The IRS has dashed the hopes of New Jersey homeowners who have prepaid their 2018 property taxes in an effort to get around a provision in the new federal tax overhaul.

In a statement it released Wednesday, the IRS says prepayment of property taxes not assessed prior to 2018 are not deductible when filers submit their tax returns next year. The federal agency had previously said it was still reviewing language in the law to determine if it would permit deduction of prepaid local taxes.


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