It’s Taxes from A to Z. Today: C is for canceled debt.
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Treasury Sends Dire Warning To Congress: We're Running Out Of Money Faster Than Expected
We might have avoided a government shutdown (for now) but barring any last minute actions by Congress, we’re still on track to default on our
Read MorePayback Is Forever: Tax Refund Offset Law Remains On The Books
A Washington Post story focusing on the seizure of tax refunds by the government to repay debt that was, in some instances, decades old has attracted attention. Of interest is the authority to seize tax refunds to pay back certain obligations.
Read MoreTax Break Ending For Underwater Homeowners: Is It The Right Time?
As the year draws to a close, so, too, are a number of tax provisions for individuals. One of the most talked about is the Mortgage Forgiveness Debt Relief Act, which is set to expire in a few days. The provision allows taxpayers to exclude forgiven or canceled debt from a short sale, foreclosure or other mortgage relief, from taxable income. Will Congress tack on another year or just let the Act expire?
Read MoreTaxes From A To Z: L Is For Levy
L is for Levy. In God we trust; all others must pay cash. The IRS, like most creditors, wants to get paid. And if you
Read MoreDebt Ceiling, Spending Cuts To Rise But No Word On Higher Taxes
If you stayed up to watch the marathon Braves/Pirates game, the one that lasted 19 innings, you kind of know how most people feel about
Read MoreDo Americans Want To Pay Higher Taxes To Reduce Our Debt?
Do Americans want to pay higher taxes to pay down our debt? It depends on who you’re listening to. Much has been made of wealthy
Read MoreStudent Loan Interest – It's Deductible!
I have a love/hate relationships with student loans. I love that they allowed me to go to college and law school – I couldn’t have
Read MoreAsk the Taxgirl: Mortgage Forgiveness
Taxpayer asks: I have a 1099-c from a short sale on my house, I was hoping to be granted an exemption because of the Mortgage
Read MoreFix the Tax Code Friday: Mortgage Debt Cancellation
Fix the Tax Code Friday is back! This is your chance to sound off about tax policy – and propose how you would fix the
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