http://www.bankruptcylawnetwork.com/2008/09/06/bankruptcy-can-stop-cancellation-of-debt-tax/ Real Lawyers, Real Solutions Thu, 11 Mar 2010 21:25:57 -0700 http://wordpress.org/?v=2.9.2 hourly 1 http://www.bankruptcylawnetwork.com/2008/09/06/bankruptcy-can-stop-cancellation-of-debt-tax/comment-page-1/#comment-35479 Can I Owe Tax If I Lose My Home to Foreclosure? : Mortgage Law Network Sat, 13 Jun 2009 03:13:53 +0000 http://www.bankruptcylawnetwork.com/?p=2854#comment-35479 [...] Tax on canceled debt is not new.  However, it has not been much of a problem for consumers in the past.  I have written about debt cancellation tax and some of the ways it can be avoided and many news articles have been written about the issue.  Several factors have combined to make this ironic problem a consumer issue.  The run up of home values in recent years and the aggressive marketing of home loans, often to people who can not afford to pay them have combined with new computer technology used by the IRS to pinpoint transactions when debt is canceled.  The result has been the issuance of tax due notices to increasing numbers of financially distressed consumers. [...]

]]> http://www.bankruptcylawnetwork.com/2008/09/06/bankruptcy-can-stop-cancellation-of-debt-tax/comment-page-1/#comment-35476 New Income Based Repayment Plans, Same Old Story : Debt Law Network Fri, 12 Jun 2009 00:03:13 +0000 http://www.bankruptcylawnetwork.com/?p=2854#comment-35476 [...] student loan debtor for the entire 25-year repayment period.  Both plans trigger potentially large cancellation of debt tax obligations if the borrower does complete the plan, and both require significant payments from individuals [...]

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