Saturday , 28 November 2020

Tax Increase Prevention Bill Signed Into Law By President Provides Relief for Distressed Homeowners

By Brian Honea

Just before Christmas, President Barack Obama signed into law H.B. 5771, known as the Tax Increase Prevention Act of 2014, which retroactively extended 55 tax provisions – including one that provides distressed homeowners relief on forgiven mortgage debt. The bill was introduced by U.S. Representative Dave Camp (R-Michigan), Chairman of the House Committee on Ways …

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