Tax on Principal Forgiviness

Tax on Principal Forgiviness

Folks underwater holding their breath Keith Harney Thanks to Seattle Times  September 13, 2014 It appears Congress will extend a tax-relief program for them, but not until after the November elections. WASHINGTON — Congress is back from its summer vacation, so the...

Tax on forgiveness of mortgage debt

Current law relieves mortgage debtors from having to report forgiveness of mortgage debt through principal reduction as income – even if the mortgage debtor has gotten a discharge on the mortgage through bankruptcy. However, this law expires at the end of 2012....

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