Prepaying Property Taxes May Not Help North Texans After IRS Clarifies Rules

DALLAS (CBS11) – A newly issued advisory by the IRS Wednesday afternoon casts doubt that North Texans will be able to deduct prepayments of next year’s property taxes on this year’s federal income tax returns.
The ruling comes as some North Texans have scrambled to prepay their 2018 property taxes with the goal of saving money on their income taxes.
The agency’s advisory said, “A prepayment of anticipated real property taxes that have not been assessed prior to 2018