Comments on: What is Cancellation of Debt?

By: Mortgage Forgiveness Can Be Excluded From Taxable Income | Mortgage Law Network

Thu, 11 Mar 2010 21:25:57 +0000

[...] the life of the statute through tax year 2012. Limitations on this statute and details of debt cancellation tax will be explored in later articles. However, it is important to note that the statute, which [...]

By: Can I Owe Tax If I Lose My Home to Foreclosure? : Mortgage Law Network

Can I Owe Tax If I Lose My Home to Foreclosure? : Mortgage Law Network — Sat, 13 Jun 2009 19:48:56 +0000

[...] tax and some of the ways it can be avoided. � My�colleagues�have answered the question “What is debt cancellation tax” in [...]

By: Is Bankruptcy Better Than Debt Settlement? : Debt Law Network

Is Bankruptcy Better Than Debt Settlement? : Debt Law Network — Sun, 07 Jun 2009 03:16:49 +0000

[...] IRS assesses a tax on cancelled debt.� If you pay less than the full amount of a debt, under most circumstances, the amount of unpaid [...]

By: Home Loan Foreclosure No Longer a Tax Trap? : Bankruptcy Law Network

Home Loan Foreclosure No Longer a Tax Trap? : Bankruptcy Law Network — Wed, 26 Dec 2007 23:02:43 +0000

[...] this piece of legislation, cancellation of debt from foreclosure or short sale (sale of a home for less than the amount owed) generally resulted in [...]