Tag Archives: Debt relief

Ten Facts for Mortgage Debt Forgiveness

Courtesy of IRS If your mortgage debt is partly or entirely forgiven during tax years 2007 through 2012, you may be able to claim special tax relief and exclude the debt forgiven from your income. Here are 10 facts the IRS wants you to know about Mortgage Debt Forgiveness.

Mortgage relief act goes to President

Spidell’s Flash E-mail #2007-35 Courtesy of Spidell Publishing – www.caltax.com H.R. 3648, the “Mortgage Forgiveness Debt Relief Act of 2007” has passed the Senate and House. The President is expected to sign the bill that will help some taxpayers caught up in the sub-prime mortgage disaster. It includes the following provisions: · Exclusion of up […]