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| FREE NEWS ALERTS A free, comprehensive news service to keep small businesses and independent contractors posted on the latest tax developments affecting their operations.
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March 1, 2010 Modifications Show Importance Of Taxable Debt ForgivenessThe mortgage industry is increasingly using principal forgiveness to limit losses on underwater mortgages, but the tax implications for many of these tactics, including refinancing and modifications on second liens, may render them useless. In December 2007, President Bush signed legislation that provided limited tax relief for borrowers whose home mortgage debt is forgiven... Subscribers have free access to the archives. Click here. |
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