This is the story of death and resurrection.
No. I’m not talking about religion. I’m talking about some important changes congress made to the tax law.
Let me explain…
Congress, in its wisdom, left many tax breaks, called “extenders,” to expire on December 31, 2017. This means the extenders were killed for all of 2018. Ouch!
Then the resurrection took place. Congress brought the extenders back from the dead and retroactively reinstated them to January 1, 2018.
The bottom line? You can amend your 2018 tax returns and claim valuable deductions!
Want to learn more? We’ll tell you which deductions and credits you can take when you read my new article titled Tax Tips: Congress Reinstates Expired Tax Provisions—Some Back to 2018.
Three ways our fact-filled article can help you:
- We’ll explain important tax breaks you shouldn’t miss. There are five of them. I’m talking about tax breaks most likely to impact your Form 1040. They now expire on December 31, 2020 so they’re good for 2018 (on an amended return), 2019 (the return you are getting ready to file) and 2020. What are they? You’ll find out when you read the full article.
- We’ll tell you about other tax breaks you should know about. There are twenty of them and they’ve been extended retroactively to January 1, 2018, so an amended return may be necessary to get a 2018 tax refund. NOTE: They’ll expire on December 31, 2020. What are these tax breaks? You’ll get the whole story when you read the full article.
- You’ll learn which provisions of the law have been temporarily extended. There are six such extensions that were supposed to expire on December 31, 2019, and now apply through 2020! You’ll get all the details when you read the full article.