Spending Bill - Extenders


Article Posted on 01/03/2020


Congress passed what is known as "extenders" on December 19, 2019 as part of the spending bill.   It included many tax provisions with a limited life that must be extended by Congress to continue.   Here are a few provisions from that bill:

  • Work opportunity credit for hiring members of targeted groups - expired 2019, now extended to 2020
  • Credit for qualifying energy home improvements (windows, heat pump..) - expired 2017, now extended to 2020
  • Itemized deduction for private mortgage insurance premiums(PMI) - expired 2017, now extended to 2020
  • Itemized deduction floor limitation for medical expense reduced from 10% to 7.5% - expired 2018 extended to 2021
  • Exclusion from taxable income of debt forgiveness income of qualified principal residence indebtedness(up to a $2 million limit,$1 million for married filing separately)) - expired 2017, now extended to 2020

Some of the extenders go back to 2018. When filing your 2019 tax return, you may want to look at 2018 to see if there is any benefit to amending your return.  

Kopsa Otte
  • kopsa otte CPAs & Advisors
  • 306 East Seventh Street
  • York, NE 68467
  • 1-402-362-6636