The Phantom of the Foreclosure Crisis: Cancellation of Indebtedness Taxation
Dustin A. Zacks
King, Nieves & Zacks PLLC
September 1, 2013
Probate & Property 27:5 (Sep./Oct. 2013)
This article describes how tax liability may arise for distressed homeowners seeking modification, short sales, or deeds-in-lieu of foreclosure, and explains how such liability may be avoided. Also discussed are the rationales for forgiveness of such tax liability.
Number of Pages in PDF File: 7
Keywords: foreclosure, mortgage, housing crisis, cancellation of indebtedness, income tax
Date posted: October 9, 2013
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