New Senate Bill Proposes Retroactive Tax Breaks

This week a new bill in the Senate was introduced entitled Tax Extender and Disaster Relief Act of 2019, which has one Republican and one Democrat as sponsors. If passed, a number of tax breaks that expired in 2017 would be extended, which would cause a flurry of amended returns. Among the breaks: mortgage insurance premiums, home energy credits, principal residence indebtedness, and more. To follow the bill, use this link: Tax Extender Bill Congress.gov. To see the summary of the bill: Summary of Extenders Bill. Will this pass? Even though this is a bipartisan Senate bill, the House may be too busy with their partisan drama to pay attention :)