TaxMama’s TaxQuips 2018 and 2019 Tax Extenders

Today TaxMama® wants to alert you to a tax extender bill sitting in Congress. It’s the Tax Extender and Disaster Relief Act of 2019. Dear Family, Great news! The extender bill that Congress is working on will buy us two years of (relative) certainty about our tax lives. The  provisions in this bill will extend tax benefits that expired at the end of 12/31/17 to be available to us for 2018 AND 2019. (disclosure –  I am one of the few tax writers who was SURE they would include 2019 – despite everyone else being convinced that they would only cover 2018.) I could give you a link to the entire law, but here’s a 5 page summary, instead.https://www.finance.senate.gov/imo/media/doc/Tax%20Extender%20and%20Disaster%20Relief%20Act%20of%202019%20Summary.pdf The personal highlights:Exclusion from income of cancellation of debt on principal residences (acquisition debt) for agreements entered into before 01/01/2020Mortgage insurance premiums (PMI) are…

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