tax relief

Tax Relief for Mortgage Debt Forgiveness

Armen Hareyan — Thu, 13 Nov 2008 07:35:40 -0600

Congress gave some struggling homeowners a gift last December. On December 20, congress enacted the Mortgage Forgiveness Debt Relief Act of 2007 allowing homeowners whose mortgage debt has been partially or fully forgiven to claim special federal income tax relief.

Mortgage Workouts, Now Tax-Free for Many Homeowners

Armen Hareyan — Thu, 14 Feb 2008 10:54:29 -0600

Claim Relief on Newly-Revised IRS Form. Homeowners whose mortgage debt was partly or entirely forgiven during 2007 may be able to claim special tax relief by filling out newly-revised Form 982 and attaching it to their 2007 federal income tax return, according to the Internal Revenue Service.

President Bush Outlines Ideas to Boost Faltering Economy

Armen Hareyan — Fri, 18 Jan 2008 12:56:35 -0600

President Bush says the country is in the midst of a "challenging period" and needs swift and temporary actions to boost the economy.