| IRS offers tax relief to Soldiers who terminate auto leases on deployment!
There is some tax relief for our soldiers who are forced to terminate Auto Leases when they face deployment for overseas assignments.
The new IRS ruling states that soldiers would not be subject to "income tax on the forgiven debt or on early termination fees that would be waived by the auto or finance companies".
As a matter of law, "lessors are are not allowed to charge a fee if the soldier voids a lease if he or she ois deployed for at least 180 days."
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