Mortgage Forgiveness Debt Relief Act and Debt Cancellation
There are still too many people with underwater homes, in foreclosure, deed in lieu or the short sale process that cannot afford the additional burden of having to pay taxes on a deficiency.
This would just be an additional burden after the traumatic shock of losing a home.These people need time to get back on their feet they don't need another slap in the face from the IRS..
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