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Tax consequences of debt discharge income

Many financially distressed borrowers may have had some or all of their debts cancelled or forgiven by their lender last year. As tax time approaches, these individuals may not realize that they may...

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Recent Tax Developments, Part 5

The following is the fifth in a series of blog posts providing a summary of the most important tax developments that have occurred in the past three months that may affect you, your family, your...

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IRS Issues Tax Tips: Mortgage debt forgiveness

Mortgage Debt Forgiveness: 10 Key Points Canceled debt is normally taxable to you, but there are exceptions. One of those exceptions is available to homeowners whose mortgage debt is partly or entirely...

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