Great parcel of land for privacy and nature lovers to build your dream home in Upper Nyack. Very close to Hook Mountain Park with a trail along Hudson River, schools, shopping, only a few
NAR Issue Brief Mortgage Debt Cancellation Tax Relief
NAR has been working on an extension of these provisions since the previous extension was passed on New Years’ Day 2013. While this is an important first step toward having the 2-year extension enacted into law, there some significant hurdles left to overcome.The extension of the tax relief “costs” money to the Treasury. The Joint Committee on Taxation estimates that a two-year extension of the mortgage debt cancellation relief would cost $5.4 billion. This will create significant push-back by some Members of Congress and Senators who will insist that amount be offset by raising taxes elsewhere or cuts in spending – an ongoing debate in Congress. Also, the House Ways and Means Committee Chairman Dave Camp has expressed a desire to make some of the “extender” provisions permanent, while allowing other provisions to expire. Reconciling which provisions are extended, for how long, and whether they are paid for, are still issues without consensus between the Senate and the House.
Partially Reprinted from National Association of Realtor website.
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