Posts Tagged ‘tax refund’

My financial advisor, David Benning, forwarded a summary of the tax benefits that were hiding in the fed’s bailout bill. Here is a summary of his summary:
Mortgage debt forgiveness excluded
Ordinarily, debt forgiveness may be taxable, including foreclosure residuals. That is, the difference between what you owe the bank and what the bank gets for your [...]

You know who I’ll bet is really happy about the stimulus checks coming next month? Debt collectors. Tax refund is (usually) happy season for debt collectors, and this year they get two bites at the apple.