CONGRESS REINSTATES EXPIRED TAX PROVISIONS -- SOME BACK TO 2018
let many tax provisions expire on December 31, 2017, making them dead for your
already- filed 2018 tax returns.
what has become much too common practice, Congress resurrected the dead
provisions retroactively to January 1, 2018. That’s good news. The bad news is
that we have to amend your tax returns to make this work for you.
you can relax when filing your 2019 and 2020 tax returns, because lawmakers
extended the “extender” tax laws for both years. Thus, no worries until
2021—and even longer for a few extenders that received special treatment.
Back from the Dead-
big five tax breaks that most likely impact your Form 1040 are as follows:
Exclusion from income
for cancellation of acquisition debt on your principal residence (up to $2
mortgage insurance premiums as residence interest
7.5 percent floor
to deduct medical expenses (instead of 10 percent)
and fees deduction
property credit for energy-efficient improvements to your residence
Congress extended these five tax breaks retroactively to January 1, 2018. They now expire on December 31, 2020, so you’re good for both 2019 and 2020.
If you have questions about the extenders, please call me (513-794-1551) or email me (firstname.lastname@example.org).
INSPECTOR GENERAL WARNS PUBLIC ABOUT NEW TWIST TO SOCIAL SECURITY PHONE SCAMS
Inspector General of Social Security, Gail S. Ennis, is warning the public that
telephone scammers may send faked documents by email to convince victims to
comply with their demands. The Social Security Administration Office of the
Inspector General (OIG) has received reports of victims who received emails
with attached letters and reports that appeared to be from Social Security or
Social Security OIG. The letters may use official letterhead and government
“jargon” to convince victims they are legitimate; they may also contain
misspellings and grammar mistakes.
you receive a call or email that you believe to be suspicious, about a problem
with your Social Security number or account, hang up or do not respond. We
encourage the public to report Social Security phone scams using our dedicated
online form, at https://oig.ssa.gov. Please share this information with your
friends and family, to help spread awareness about phone scams. For more
information, please visit https://oig.ssa.gov/scam.