On December 3, 2014, the House passed “The Tax Increase Prevention and Reconciliation Act of 2014” (TIPRA) by a vote of 378 to 46. This bill includes a temporary one-year extension of many favorable tax provisions and a laundry list of technical corrections, including extension of:
• The education deduction for teachers;
• Exclusion from taxable income of discharge of qualified principal residence indebtedness;
• Mortgage insurance premiums treated as a mortgage interest deduction; Read More
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