IRS eases rules on property liens

April 17th, 2011 by Admin
Categories: News
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The Internal Revenue Service says it’s trying to help people who are struggling to pay delinquent tax bills, so it’s reducing the number of property liens and easing rules for small businesses to enter into installment agreements.
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Tags: delinquent, I.R.S., liens, property liens, tax bills, taxes

Passing the test on canceled mortgage debt has tax rewards

April 17th, 2011 by Admin
Categories: News
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Homeowners who went through loan modifications, short sales and foreclosures can avoid big tax bills if they qualify for a special exemption adopted by Congress. With hundreds of thousands of homeowners having negotiated loan modifications or short sales or been foreclosed upon during the past year, the Internal Revenue Service has issued fresh guidance on how to handle canceled mortgage debt in the upcoming tax season. Read the rest of this entry »

Tags: delinquent, I.R.S., liens, property liens, tax bills, taxes