The infamous Pease limitation was first incorporated into the Omnibus Budget Reconciliation Act of 1990 and it is named after former Congressman Donald Pease.

FORBES: Pease Limitation Puts A Lid On Itemized Deductions For Wealthy Folks

While the American Taxpayer Relief Act of 2012 reduced the impact of the Pease Limitation, it is still around, and it can greatly limit itemized deductions like mortgage interest and charitable gifts.

FORBES: Pease Limitation Puts A Lid On Itemized Deductions For Wealthy Folks