People who had home mortgage debt forgiven in 2018 after foreclosure or a short sale may find themselves owing thousands of dollars in unanticipated taxes this filing season.
The reason? Congress’ continued inaction on a set of expired tax breaks.
The temporary provisions, called “extenders,” are usually renewed every few years as part of a package consisting of tax breaks for businesses and individuals. But many of them expired at the end of 2017, and Congress has failed to act…
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