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Category : > Income Tax Filing Across The USA
Posted On : Fri Nov 26th,2010



The following tax benefits have expired and will not apply for 2007.

Relief granted for Hurricanes Katrina, Rita, and Wilma.

  • Tax-favored treatment of qualified hurricane distributions from eligible retirement plans.
  • Increased limits and delayed repayment on loans from qualified employer plans.
  • 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.
  • Increased limits and an expanded definition of qualified education expenses for the Hope and lifetime learning credits.
  • Additional exemption for housing individuals displaced by Hurricane Katrina.
  • Exclusion from income for discharge of nonbusiness debt by reason of Hurricane Katrina.
Qualified electric vehicle credit.

You cannot claim this credit for any vehicle you placed in service after 2006


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