Reinstating of Tax Relief

National Association of Realtors reports that Congress is looking at reinstating tax relief provisions.

"On April 3, 2014 the United States Senate Finance Committee agreed to a bipartisan bill to reinstate close to 50 tax provisions that expired at the end of 2013. Among the real estate provisions included in the “extenders” package are tax relief for mortgage debt forgiveness, 15-year cost recovery for qualified leasehold improvements, election to expense certain qualified real property, and deduction for energy efficient commercial buildings. All of these provisions are retroactively extended to cover a period from January 1, 2014 to December 31, 2015."

For complete article, go click on- Tax Relief.