Obama Mortgage Relief 2010: The 2010 Tax Relief

The news has recently been abuzz with the new tax legislation passed by Congress and approved by the President. This newsletter will explain in more detail a substantial portion of the content of the recently passed tax legislation and how the new Obama mortgage relief 2010 provisions may affect you. On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the Act). The Act extends the Bush era tax cuts, temporarily extends unemployment insurance benefits, and includes other temporary business and individual tax incentives. However, the Act does not include any revenue offsets.
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