MORTGAGE DEBT RELIEF ACT SET TO EXPIRE As of now, it appears - TopicsExpress

MORTGAGE DEBT RELIEF ACT SET TO EXPIRE As of now, it appears likely that the Mortgage Debt Relief Act will expire on January 1, 2014. The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. However, there is a proposed Bill that will extend the Act from January 1, 2014 to January 1, 2016. The issue is that the proposed Bill has been tabled in House committee since July 23, 2013 and there is no indication as to when or if the Bill will be passed. Written by: Berlin-Patten, PLLC

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