Underwater homeowners could face extra tax burden in 2014

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Underwater homeowners could face extra tax burden in 2014

Underwater homeowners could face extra tax burden in 2014

Do pull your shorts up just yet…

While the banks can get away with paying taxes for their fraud …you on the other hand get screwed no matter what is right!


WAPO-

Struggling homeowners could be hit with an unexpected tax bill in the new year.

A law that spared people who owe more than their homes are worth from being saddled with extra taxes when their banks provide mortgage relief is expiring next week. Congress hasn’t extended it.

Underwater homeowners often try to negotiate with their bank so that they can sell their homes for less than they owe in a short sale or have their mortgage balance reduced. But the difference between what the homeowner owes and the lower sales price approved by the bank is considered income for the homeowner and subject to tax by the Internal Revenue Service.

[WASHINGTON POST]

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- who has written 8684 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

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One Response to “Underwater homeowners could face extra tax burden in 2014”

  1. One more atrocity to the con game and debt slavery. This can not be accepted. This can not be an accepted punishment caused by the crime against us, anymore than the fraud closures can be accepted. Nor the unemployment running out when the criminals have been bailed out. Go to your counsel members in mass and let them know what is happening. Start contacting your politicians.

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