The Mortgage Forgiveness Debt Relief Act 20, 2019. The act extended this mortgage forgiveness debt relief through Dec. 31, 2020. Congress extended it once again via the Consolidated Appropriations Act of 2021, this time through 2025, though with some changes.

Was the mortgage Debt Relief Act extended for 2018?

Several extensions expanded that period, and the Bipartisan Budget Act extended the exclusion through 2017. It also applied to debt discharged in 2018 if the borrower entered into a written agreement in 2017. Also, review IRS Publication 4681 on Canceled Debts, Foreclosures, Repossessions, and Abandonments.

Is the mortgage Forgiveness debt Relief Act of 2007 still in effect?

The Act covered debt forgiven within the calendar years of 2007 through 2020. This can also apply to debt that is discharged in 2021 provided that there was a written agreement entered into in 2020. The CAA extends the exclusion of cancelled qualified mortgage debt from income for tax years 2021 through 2025.

Is the mortgage forgiveness Debt Relief Act being extended?

News Update: As of December 15, 2015, the Mortgage Forgiveness Debt Relief Act was extended for an additional two years, 2015 and 2016. What is the progress of the extension as of now? As the year 2015 is soon to be over, what are the chances of the Act being extended again? Thank you for your attention.

When was the mortgage debt relief act passed?

News Update: As of December 15, 2015, the Mortgage Forgiveness Debt Relief Act was extended for an additional two years, 2015 and 2016. In December 20, 2007, President George Bush signed the Mortgage Forgiveness Debt Relief Act.

When did the Mortgage Forgiveness Act of 2015 expire?

Ask Kate answers: Mortgage Forgiveness Debt Relief Act 2015. As of December 13, 2015, Congress has not extended the Mortgage Forgiveness Debt Relief Act. Last year, Congress retroactively extended it on December 14, 2014 but then allowed it to expire on December 31, 2014.

When to apply for debt relief from foreclosure?

Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualify for this relief. This provision applies to debt forgiven in calendar years 2007 through 2017.