At the end of 2013, Congress failed to extend a tax relief provision that protected homeowners from being forced to pay income taxes when mortgage debt is forgiven by a lender in a short sale. Unless Congress takes action before the end of the year, thousands of Kansas families will have to face tax increases on this “phantom income” from forgiven mortgage debt.
Tell Congress to Protect Kansas Families from Hidden Tax Increases after Short Sales
November 21, 2014 by
