Congress extended some tax credits in the recent budget bill that was signed on 2/9

The recent The Bipartisan Budget Act of 2018 that was passed and signed on 2/9 included some tax relief provisions and extension on previously expired tax credits.

Some key tax extensions are:

• Mortgage Debt Exclusion

• Mortgage Insurance Premiums

• Tuition and Fees Deduction

• Credit for Nonbusiness Energy Property

• Extension and modification of credit for residential energy property

• Credit for New Qualified Fuel Cell Motor Vehicles

• California Wildfire Tax Benefits

• Tax Benefits for Victims of Hurricanes Harvey, Irma, and Maria

 

Here is a good summary table from USA Today on the list of expired tax provisions that are now extended

 

Might be helpful to wait until the IRS fully assess the impact of these recent changes before filing IRS Statement

 

Bill that was signed into law

Submitted February 12, 2018 at 12:40AM by DrChancellor http://ift.tt/2sr8AiI