IRS Scandal: Fact and Fiction

Posted by on Oct 31, 2015 in Blog | 0 comments

Since I deal with the IRS on a daily basis, I have been following the unfolding saga of the IRS scandal on a regular basis.  There has not been a lot of media coverage on this, and much of the coverage has been inaccurate or exaggerated so I thought I would point out some of the fact and fiction that I have heard on the topic. This whole scandal got started when Lois Lerner apologized publicly in May of 2013 for unfairly targeting...

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Bad news for distressed CA homeowners

Posted by on Oct 10, 2015 in Blog | 0 comments

Governor Brown just vetoed AB 99 which would have granted tax relief to taxpayers who lost their residences in 2014 through foreclosure or short sale.  Generally, in foreclosures or short sales there is a forgiveness or cancellation of debt (COD) by the lender. This results in taxable income to the borrower unless they meet one of various exclusions in tax law.  In response to the housing crisis, our federal legislators created a temporary...

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