Originally Posted by
audidudi
When does this 15% off expire, or has this not been announced? Apologies if it has been, as I couldn’t find it. Thanks!
It is a permanent benefit (or as permanent as anything can be).
Originally Posted by
Zorak
However there is the so-called SALT cap of $10k on deducting local/state/property tax from your federal return.
EDIT: or are you saying that the taxable part of the refund will be similarly capped?
Yes, the refund is only taxable if it was meaningfully deducted in the prior year.
If you made the payment in the same year you received the refund, the refund is never taxable (it directly offsets the payment).
If you receive a refund of SALT payments that were subject to the SALT cap, only the excess of the refund (if any) over the reduction due to the cap is taxable (so e.g. paid $20k of SALT, itemized, received refund of $5k - none is taxable). See also
Publication 525, page 27.
However, this should all be moot unless someone knows of a state that charges less than 1.87% for CC payments.