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GOP tax chair says SALT lawmakers should take $30K limit

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The chair of the House’s tax-writing panel said the $30,000 limit his committee put on the state and local tax deduction is “fair” and lawmakers from high-tax states should accept it.

“It’s not everything that some of the SALT members want, but I have members of our conference that don’t even think that you should be able to deduct $1, let alone $30,000. It’s a fair and balanced approach,” Jason Smith, chair of the House Ways and Means Committee, said Thursday at an Economic Club of Washington, D.C. event.

Demands from New York, New Jersey and California Republicans for a higher limit are one of the few unresolved issues preventing Republicans from advancing President Donald Trump’s economic legislation. Without the SALT lawmakers’ votes, Republicans cannot pass the tax bill.

Smith said he thought his panel had landed on a “good spot.”

Smith spoke a day after his panel advanced the tax-cut portion of Trump’s signature economic legislation, aimed for final passage this summer. The bill would make permanent the individual tax rates reduced in Trump’s 2017 package, and introduce new benefits, including eliminating levies on tips and overtime pay.

Given Republicans’ razor-thin majority in the House, party unity will be vital. But sharp differences over SALT have to be resolved before the economic package is put up for a vote in the House. The current draft raises the cap on that benefit to $30,000, up from a $10,000 limit imposed in 2017, with a phase-out for individuals making more than $200,000 a year and couples making more than $400,000.

Several Republicans from high-tax states have called to increase the cap as high as $62,000 for individuals and $124,000 for couples, a proposition that the Committee for a Responsible Federal Budget estimates would cost $900 billion over the course of a decade.

Smith has criticized those demands, saying the vast majority of taxpayers in high-tax areas would have all their state and local tax payments covered by a $30,000 cap.

Negotiations over SALT are slated to continue Thursday morning in House Speaker Mike Johnson’s Capitol Hill office. Members of the hardline House Freedom Caucus, who are pushing for more spending cuts are also planning to meet with House leadership to seek additional budget reductions.

“We have the smallest majorities in the history of congress,” Smith said. “I could only lose three people. So trying to thread that needle on various provisions including SALT and find that balance is what I’ve been trying to do in this bill.”

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Accounting

Mauldin & Jenkins merges in Bradshaw, Gordon & Clinkscales

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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 CFO Navigator, a firm that offers financial guidance to businesses and nonprofit organizations in the Atlanta area. In 2021, M&J expanded in Alabama by adding CDPA PC, a firm with offices in Athens, Florence and Huntsville, effective July 1. In 2020, M&J expanded to Sarasota, Florida, by acquiring Plush Smith. It acquired another firm in Florida, Jon Campbell & Associates, in 2019.

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Accounting

Armanino expands into Utah with Cooper Savas merger

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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 took on a minority investment from a private equity firm last fall, in part to gain access to capital to fuel its aggressive M&A strategy, which has seen the firm finalize 20 combinations since 2019.

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 Top 100 Firms, with $716 million in revenue, 262 partners and over 2,700 staff.

“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.”​

Matt Armanino
Matt Armanino

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 deal with PE firm Further Global Capital Management, Armanino adopted an alternative practice structure. As a result, Cooper Savas’ non-attest assets will be acquired by Armanino Advisory LLC, and the firm’s attest services will be acquired by Armanino LLP.

In February of this year, Armanino acquired Boca Raton, Florida-based ERP and technology consulting firm Complete Business Solutions. In 2023, it acquired New York-based Janover; Bemel, Ross & Avedon LLP, a Los Angeles-based business management firm; and two entertainment-oriented firms, Royalty Compliance Organization, a music rights and royalty auditing firm in St. Louis, and Blue Sky Group, a music business management team in Nashville. In 2022, it merged in Philadelphia-based Drucker & Scaccetti.

(Listen: Inside Armanino’s success.”)

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Accounting

IRS can only give tax data to ICE in deportation, criminal cases

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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 finalized.

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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