7 Things You Should Know About the Tax Consequences of Debt Forgiveness

7 Things You Should Know About the Tax Consequences of Debt Forgiveness

If you have lost your home due to foreclosure or short sale and it is time to file your income taxes, there are 7 Things You Should Know About the Tax Consequences of Debt Forgiveness. Coincidentally we wrote an eBook with the same title. That's because it's extremely important that you understand the new laws passed by Congress, otherwise you may be shocked to learn that you owe a lot more money to the I.R.S than you were expecting.

In this free eBook you'll learn about:

  • The Internal Revenue Code Section 108 (which deals with debt forgiveness)
  • The Mortgage Forgiveness Debt Relief Act of 2007
  • The Emergency Economic Stabilization Act of 2008
  • Filing specific tax forms

...and more.

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This information is based on facts, assumptions and representations as stated and authorities that are subject to change.  We will not update this information for subsequent legislative or administrative changes of future judicial interpretations.

LEGAL NOTICE AND DISCLAIMER:  The information within this web site is for informational and educational purposes only and is not tax advice and should not be used as such.  The facts of each individual situation can have significantly different outcomes when applying tax law.  The hiring of a CPA is an important decision not to be based solely on advertisements.