💰 Financial Record

payment

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Transaction Details

Amount

USD $10,000.0

Payer (From)

Individuals Linked to Multiple redacted individuals

Payee (To)

State/Local Gov Linked to State/Local Governments

Description

New restriction on ability of individuals to deduct more than $10,000 in state and local taxes.

Additional Details

Date string: N/A

Amount string: 10000

Source document: HOUSE_OVERSIGHT_026780.jpg

📄 Source Document

HOUSE_OVERSIGHT_026780.jpg

ESTATE Collection

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Document Summary

This document is a page from a legal or financial memorandum analyzing the implications of the Tax Cuts and Jobs Act of 2017 (referred to as the 'Tax Act'). It specifically advises on the benefits of converting partnerships or hedge funds into 'C' corporations to utilize the new lower 21% corporate tax rate, while warning of IRS 'anti-abuse' provisions related to accumulated earnings and personal holding companies. The document bears a 'HOUSE_OVERSIGHT' Bates stamp, indicating it was part of a congressional production, likely related to the financial structures of individuals under investigation.

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