Tax Implications of Loan Forgiveness

There is an article in the latest issue of the NAR’s Commnews Roundup discussing the downside of loan forgiveness as far as taxes are concerned. We weren’t able to locate the article online, so we’ll give you a synopsis:

Provisions of the economic stimulus legislation permit CRE owners to postpone tax liability on forgiven mortgage debt [...]

Treasury Reworking Tax Rules to Help Dampen Commercial Real Estate Fallout

The Treasury today introduced new tax rules to help services, borrowers, and lenders to modify loans without having to worry about triggering tax penalties.
Until now, tax rules have made it difficult for borrowers who are current on their payments to hold restructuring talks with the servicers of these bonds. Developers and investors complain that only [...]

IRS Revenue Down 34% YoY

The IRS’s revenue is down 34% from last April according to a report by the American Institute for Economic Research. These numbers represent a stagflation of sorts for the federal government – their costs are rising rapidly while income is flat to down.
At this rate, ultimately what this will lead to is taxation as it always [...]