Archive for the ‘Money Mutual Phone Number’ Category

Interest on Residence Equity Loans Frequently Nevertheless Deductible Under Brand New Law

Friday, February 28th, 2020

Interest on Residence Equity Loans Frequently Nevertheless Deductible Under Brand New Law

WASHINGTON — The Internal income provider today recommended taxpayers that most of the time they are able to continue steadily to deduct interest compensated on house equity loans.

Giving an answer to numerous concerns received from taxpayers and income tax professionals, the IRS said that despite newly-enacted restrictions on home mortgages, taxpayers can frequently nevertheless deduct interest on a house equity loan, home equity credit line (HELOC) or mortgage that is second it doesn’t matter how the mortgage is labelled. (more…)