The Real Deal New York

Posts Tagged ‘mortgage interest deduction’

  • A break for housing tax breaks?

    October 25, 2013 01:29PM

    Here’s a side effect of the 16-day federal shutdown and debt-ceiling crisis that could prove popular among tax-sensitive homeowners: The stalemate removed even the remotest possibility that Congress could undertake fundamental tax reforms curtailing housing breaks this year and renders it unlikely next year as well. [more]

  • From the September issue: While Congress was off on its annual summer recess, you might have assumed that nothing was happening on Capitol Hill that could affect the taxes Americans pay on their homes. Quite the reverse. [more]

  • In the contentious debate over whether to reduce or eliminate the home mortgage-interest tax deduction — or leave it alone — one fact has been virtually unchallenged: The popular write-off used by millions of U.S. homeowners costs the government massive amounts of revenue, somewhere in the range of $100 billion a year. [more]

  • The U.S. housing market stands to benefit from two tax provisions that were left alone in the hasty budget compromise that Congress reached yesterday, CNBC reported. In seeking to avert the fiscal cliff, federal lawmakers opted not to touch the mortgage-interest deduction and extended tax relief on mortgage debt forgiveness for a year. [more]