Tax changes you need to know about

Published On: Mar 04 2013 10:29:41 AM CST   Updated On: Mar 05 2013 01:03:46 AM CST

Find out what changes you need to know about before filing your taxes this year.

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Darren Shaw/SXC

Underwater Taxpayers -- The fiscal cliff deal extended limited tax relief for taxpayers facing financial difficulties under the Mortgage Forgiveness and Debt Relief Act of 2007. Under the Act, qualified homeowners who were forced into foreclosure or mortgage restructuring on a principal residence could exclude income of up to $2 million on the mortgage foregiveness.

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