2007 October | Debt Finance Wisdom

Archive for October, 2007

Bill HR3648. The Senate-bound phantom income bill | Quicken Loans …

Friday, October 12th, 2007

The IRS requires that lenders send a Form 1099 reporting they cancelled the debt to any homeowners that foreclose or participate in a short sale. The IRS turns around and taxes the homeowner on the “ phantom income.” …

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Tags: 1099 Reporting, And Taxes, Foreclose Or Participate, Homeowner, Irs, Lenders Send, Short Sale, Taxes The Homeowner, The Homeowner
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