By MyBankTracker  Fri Dec 27, 2013

Popular Tax Breaks May Disappear

Dozens of tax breaks for students, teachers, homeowners, and many other people are scheduled to expire at the end of the year. That means people will not be able to claim as many deductions on their taxes when filing their 2014 tax return in 2015. Although this will not affect the upcoming tax season, it is still something to note since your future tax deductions may be in jeopardy.

The list of threatened tax breaks includes:

  • Mortgage insurance premiums
  • Mortgage debt forgiveness
  • Donations through IRA
  • Commuter costs
  • Tuition and fees
  • Teaching expenses

Have a look a look in closer detail at the tax breaks that may disappear here.

(Image via Flickr)

Related: IRS Reveals How Long 2014 Tax Filing Season Will Be Delayed

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