Accounting
New York Republicans signal $80K SALT cap could be on table
Two New York Republicans signaled that the cap on the state and local tax deduction may rise to as much as $80,000 as GOP lawmakers from high-tax states demand a boost in exchange for their votes on President Donald Trump’s tax package.
Representative Nicole Malliotakis said Wednesday there’s an “opportunity” to grow the $30,000 state and local tax deduction cap offered by House GOP leaders in negotiations, potentially to as much as $80,000 for couples and $40,000 for individuals.
Fellow New York Republican Nick LaLota told Bloomberg Television later Wednesday that those limits could be on the table.
Malliotakis signaled that could require other concessions, such as the length of time the higher cap is effective or more stringent income limits. LaLota, however, held firm, stressing that the current $10,000 SALT cap expires at the end of the year.
“Any cap on SALT provides a savings,” he said. “It is not a cost.”
Malliotakis, who represents Staten Island, cautioned that time is running short to negotiate a SALT cap increase, as demanded by lawmakers from high-tax states, following the House Ways and Means Committee’s approval of the bill earlier Wednesday.
“The more time this takes, the more of a low sodium diet my colleagues on Ways and Means are on, you know what I mean,” Malliotakis, who sits on that panel, said. “We had to fight to get 30.”
The bill sets the $30,000 cap for individuals and couples and phases down the deduction for individuals earning at least $200,000 and couples earning twice that amount.
Malliotakis supported the increase, but several other Republicans from New York, New Jersey and California rejected the plan as insultingly low.
The lawmakers — LaLota as well as New York’s Mike Lawler, Andrew Garbarino and Elise Stefanik, New Jersey’s Tom Kean and Young Kim of California — have threatened to reject any tax package that does not raise the SALT cap sufficiently.
House Speaker Mike Johnson needs the support of nearly all Republicans to push the tax bill, which is the centerpiece of Trump’s legislative agenda, through the chamber. On Wednesday, Johnson called the ongoing talks “very productive, very positive.”
“We’re going to get to a point of resolution on this,” he told reporters.
The SALT lawmakers plan to meet with Johnson on Thursday morning, Lawler said.
But LaLota warned earlier Wednesday the two sides remain far apart, though he said the speaker has shown more flexibility than Ways and Means Chairman Jason Smith.
“I don’t feel like we’re close unfortunately,” LaLota said. “I feel like there’s some good faith in that room. Different than the rooms that Chairman Smith had been in before. The chairman has unfortunately been giving us faulty data, kooky conclusions. Things that can’t ever get us to yes.”
The SALT issue has been one of the most contentious for the House GOP to resolve as party leaders try to ram a multitrillion-dollar tax cut package through the House in May. The larger the cap adjustment is, the less money there will be for other tax cuts on the Republican agenda.
House Republicans are trying to keep revenue losses from their tax cut package down to a self-imposed limit of $4.5 trillion. They are also aiming for $2 trillion in spending cuts.
Mauldin & Jenkins, a Top 75 Firm based in Atlanta, is expanding into Greenville, South Carolina by adding Bradshaw, Gordon & Clinkscales, LLC, effective June 1, 2025.
The merger adds seven new partners and 42 professionals to M&J, which already has 76 partners and 510 professionals. Financial terms of the deal were not disclosed. M&J ranked No. 65 on Accounting Today‘s 2025 list of the Top 100 Firms, with $11.7 million in annual revenue.
“This strategic partnership aligns with our mission to offer comprehensive accounting and advisory solutions to clients while expanding our footprint in key markets,” said Mauldin & Jenkins managing partner Hanson Borders in a statement Thursday. “We are excited to welcome the professionals of BGC to our firm and look forward to building on their legacy of excellence in the Greenville community.”
BGC offers audit, tax and business advisory services to clients and dates back over 40 years. “We are thrilled to join forces with a firm that shares our commitment to client service, integrity and long-term relationships,” said BGC managing partner Peter Tiffany in a statement. “This merger represents a strong cultural fit and an exciting opportunity to expand our capabilities while continuing to put our clients’ needs at the forefront of everything we do.”
Last year, M&J added
Top 25 Firm Armanino has entered the Utah market for the first time by adding Cooper Savas LLC, a CPA firm based in Salt Lake City.
The merger is the second since Armanino
The terms of the deal were not disclosed, but Cooper Savas bring seven partners and 35 professionals to Armanino, which ranked No. 18 on Accounting Today‘s 2025 list of the
“Cooper Savas is an exemplary firm that shows how focusing on culture, talent development and quality service can build a highly successful practice,” said Matt Armanino, CEO of Armanino Advisory LLC, in a statement. “We want the best of the best to join Armanino, and Cooper Savas is a firm that exemplifies that. Their addition to the firm brings incredible talent and exciting opportunities to deliver more for their client base as we expand our national footprint.”
Robert Mooring
Founded in 2011, Cooper Savas offers traditional tax, assurance and accounting services, and gives Armanino its first office in Salt Lake City and an entrée to the Utah market.
“Since our founding, we’ve prided ourselves on our ability to deliver a hands-on, thoughtful approach to clients, and we know that Armanino maintains that shared culture and commitment, making this a great opportunity for our firm,” said Phil Cooper, partner and founder of Cooper Savas, in a statement. “Now we have access to Armanino’s extensive resources and innovative solutions, ensuring that clients can receive end-to-end support for their needs. We’re truly excited for what this partnership unlocks for our firm, our people and our clients.”
Following its October 2024
In February of this year, Armanino acquired Boca Raton, Florida-based ERP and technology consulting firm
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The IRS can share taxpayer data with federal immigration officials only in cases involving immigrants with final deportation orders or ongoing criminal investigations, according to a newly unsealed agreement between the Treasury and Homeland Security departments.
The 13-page memo, signed in April by Treasury Secretary Scott Bessent and Homeland Security Secretary Kristi Noem, was released Tuesday by order of a federal court in Washington. It permits Immigration and Customs Enforcement to request tax records under a section of the tax code that allows limited disclosures for non-tax criminal matters.
While the memo doesn’t specify what criminal cases may qualify, it does specify other rules. To obtain IRS data, ICE must provide a name, address, and deportation order date, and it’s required to safeguard any information received.
By agreeing to share taxpayer data at all, the IRS is taking an unprecedented step that breaks with longstanding assurances that such information wouldn’t be used to aid in immigration enforcement. Melanie Krause resigned as the acting IRS commissioner last month as the data-sharing arrangement was
A federal judge on Monday ordered the mostly redacted IRS-ICE agreement to be “almost entirely unsealed” in response to a request from the watchdog group American Oversight. In the same ruling, the judge denied a request from two Chicago-based immigrant advocacy groups to block the data-sharing arrangement, saying they lacked standing to challenge it.
Immigrants have for decades been encouraged to pay income taxes regardless of their status. In 1996, the IRS created an individual taxpayer identification number for foreigners who don’t qualify for a Social Security number, allowing them to file returns.
The Trump administration, as part of a broader effort to kick start its promised mass deportation effort, has reinstituted a World War II-era immigrant-registration system and has vowed to fine and criminally charge those in the US without permission who fail to register.
The White House has argued that the data is necessary to help ICE agents confirm the ongoing presence of specific foreigners living in the US illegally. A DHS spokeswoman has repeatedly defended the arrangement, arguing that the administration is using all available tools to help find immigrants in the county without permission.
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