|The way banks report mortgage interest to the IRS has changed. While a new tax form isn't usually newsworthy, this change could hit people in the wallet.
Specifically, there are rules about what type of mortgage interest is deductible. The old form allowed for more ambiguity, and some portion of debt that shouldn't have been deducted was being deducted anyway.
The Washington Post has useful coverage of the change, as well as clarification about what is, and is not, deductible.
If you have refinanced your mortgage, or taken out a home equity loan, this will be especially important to understand.