Welcome Guest. Register Now!  

LinkBack (1) Thread Tools Search this Thread Display Modes
  1 links from elsewhere to this Post. Click to view. #1 (permalink)  
Old 10-21-2008, 09:03 AM
TaxGuru's Avatar
Tax Guru
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,413
Blog Entries: 3
IRS updates the new rules for "exclusion for forgiven home mortgage debt"!

Recently, the IRS announced that "the exclusion for forgiven home mortgage debt would be extended for 3 years!" Clearly, the intent here is a recognition that the home mortgage crisis that has severely crippled the US housing market is anticipated to cause further problems for another 3 years. Hence, the IRS proposed extending the provision for 3 years. This should come as a welcome relief to many suffering the trauma of a home foreclosure.

Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.

Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

LinkBacks (?)
LinkBack to this Thread: http://www.asktaxguru.com/1302-irs-updates-new-rules-exclusion-forgiven-home.html
Posted By For Type Date
IRS updates the new rules for "exclusion for forgiven home … This thread Pingback 10-21-2008 01:28 PM

Similar Threads
Thread Thread Starter Forum Replies Last Post
Will Hawaii accept the Federal "Automatic Extension" of Individual Tax Return? TaxGuru Hawaii 0 10-12-2008 04:34 PM
Alabama State increases the "Standard Deduction" for 2008. TaxGuru Alabama 0 10-05-2008 10:50 AM
Do we need another "Fiscal Stimulus Package" to revive the faltering US economy? TaxGuru Democrats 1 10-02-2008 11:32 PM
IRS encourages "Reporting Promoters of Off-Shore Tax Avoidance Schemes!" TaxGuru General 0 04-27-2008 04:33 PM
IRS rules that "Certain Payments to Disabled Veterans Ruled Tax-Free" TaxGuru Income 0 12-29-2007 02:29 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 » Income
 » IRA/Sep
 » Medical
 » Payroll
Forum for CPAs
Financial Planning