Mortgage Forgiveness Debt Relief Act

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Congress must extend housing short sale tax relief

Oct 16, 2014By

The classification of the homeowner debt cancelled during a short sale as income allows the IRS to levy a hefty tax bill against Americans who were unable to pay their mortgage, thus burying them in further debt and making the use of the short sale transaction prohibitive.

3d rendering of a row of luxury townhouses along a street

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