Expired Tax Benefits for 2007
Expired Tax Benefits
The IRS has announced that the following tax benefits have expired and will not apply for 2007.
1.Tax-favored treatment of qualified hurricane distributions from eligible retirement plans.
2.Increased limits and delayed repayment on loans from qualified employer plans.
3.Special rules so a temporary relocation did not affect whether you provided more than half of an individual's support, whether you furnished more than half the cost of keeping up a household, and whether you could treat an individual as a student.
4.Increased limits and an expanded definition of qualified education expenses for the Hope and lifetime learning credits.
5.Additional exemption for housing individuals displaced by Hurricane Katrina.
6.Exclusion from income for discharge of nonbusiness debt by reason of Hurricane Katrina.