Filing your 1040? These three tax breaks are up in the air

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As if tensions weren’t running high enough in Washington, D.C., Congress has another battle on its hands: renewing a package of breaks for the 2018 tax year.

Say hello to the “tax extenders,” a series of temporary provisions in the code that have expired and must be reauthorized by elected officials retroactively each year in order for taxpayers to use them.

These extenders run the gamut: Previously, they have included write-offs on racehorses and motorsports complexes, as well as credits to people who buy green vehicles.

“At this moment, I would expect that an agreement is reached on the tax extenders package,” said Nicole Kaeding, director of federal projects at the Tax Foundation.

“There seems to be interest in both chambers and relevant committees to get this done, but now the question is one of timing,” she said.



Source : CNBC