Stephanie Lipinski-Galland and Kyle Wingfield co-authored an article for Bloomberg Tax titled "The PTE Election Rush—Retroactivity Is Not the Same in Every State."
The article reflects on "the retroactive nature of both Virginia’s and Colorado’s PTE elections," something that Stephanie and Kyle believe "leaves many unanswered questions" and "creates unique challenges for PTEs concerning future years," which leads to the expectation that "both states will issue additional guidance and solicit comments, thus presenting an opportunity for it to consider and answer these questions before finalizing its guidance."
To read the full article, click here.