12/08/2014
House Passes One-Year Extension of Mortgage Debt Forgiveness Tax Relief
The income tax exemption on mortgage debt forgiven in a short sale or a workout for principal residences has been extended by the House of Representatives. The retroactive extension was passed by a vote of 378 yes to 46 no. The United States Senate has not yet voted on the measure but expected to do so this week!!
Read more: http://www.realtor.org/articles/house-passes-one-year-extension-of-mortgage-debt-forgiveness-tax-relief
On Dec. 3, 2014, the House of Representatives passed H.R. 5771, the Tax Increase Prevention Act of 2014, by a strong bipartisan vote of 378-46.