The One IRS Form Homeowners Look Forward to Every Year---

That May Soon Be Eliminated

 

The Mortgage Interest Deduction is one of the few tax benefits homeowners have to use at tax time.   This week millions of homeowners across the country will get an IRS Form 1098 from their mortgage lenders.  The Mortgage Interest Deduction (MID) is one of the few tax deductions available to middle class families.  

 

However, if some politicians have their way with the MID, it may be eliminated -- and IRS Form 1098 along with it.  It is the only IRS form homeowners will miss. 

Since the creation of the MID in 1946, homeownership has grown to 66%. During this time, Americans have accumulated roughly $9 trillion in equity in their homes spurring the American economy.

That’s why we must protect the American Dream of homeownership.  With growing debts and deficits, Congress and the White House will be looking to cut anything and everything.  The American Dream cannot be one of those items on the chopping block; now is not the time to jeopardize economic recovery by impairing home values.

We need your help now. Write your congressman and let them know that the economy is too fragile to target your home.  Tell them you want to protect your right to deduct the interest on your mortgage, so that you can keep getting IRS Form 1098 every year. Let them know how important this is to you ---not only at tax time ---but as a source of savings you count on each year.

 



 

Effect on Families