TOPEKA – (March 8, 2013) – With the April 15 tax deadline approaching, Kansas Attorney General Derek Schmidt today reminded Kansans that relief received under the national mortgage settlement is exempt from federal income taxes. Schmidt joined with 42 other state attorneys general in urging Congress to extend this exemption late last year.
“As Kansans are preparing and filing their income taxes, it is important to remember that this tax exemption is available,” Schmidt said. “Families who have received assistance through the mortgage settlement are not being stuck with a tax bill for the relief they received.”
According to the latest report from the National Mortgage Settlement Monitor, 1,445 Kansas homeowners received a total of $52.9 million in mortgage assistance in 2012.