Will Congress revive expired tax breaks?

Posted by Kim Chen on October 31st, 2017

Most of the talk about possible tax legislation has focused on wide-sweeping tax reform and taxes under the Affordable Care Act. But another question is whether Congress will extend through 2017 some valuable breaks for individuals that the 2015 PATH Act extended only through 2016. One is the above-the-line deduction for higher education tuition and related expenses. Another is the mortgage insurance premium deduction. And then there’s the exclusion from gross income for mortgage loan forgiveness. Contact us for more information. We’ll keep you up to date.