Tuesday, September 18, 2007
Congress Blaming IRS for Foreclosure Problems
The issue of tax liabilities resulting from a home foreclosure has really been getting a lot of attention. Just a few hours after I posted my latest featured blog, the tax consequences of foreclosures, I came across another blog entry on TaxProf Blog discussing who is to blame for the problem. On Friday, Congress sent a letter to the IRS asking them to provide relief for people with tax liabilities resulting from foreclosures, but even in the letter Congress admitted it would be easier to fix with new legislation. However, providing relief to taxpayers affected does not really solve the problem it merely provides a way for taxpayers to resolve their debt. What Congress needs to do is properly fix the tax code with new legislation so that the problem can be fixed before it starts.
Labels:
congress,
internal revenue service,
irs,
tax,
tax news,
tax professional,
taxes
Blog Archive
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2007
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September
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- Hawaii’s Jobless Rate Up Last Month
- Treasury Chooses AT&T for $250 Million Contract
- My Open Letter Pleading the IRS to Update Their Ex...
- New IRS Employer ID Application Process
- IRS Unveils Foreclosures Section of IRS.gov
- New Video: 650 HP Corvette ZR1
- Congress Blaming IRS for Foreclosure Problems
- Now Open: RDTC Tax Help Blog
- Tax Penalties of Foreclosures
- IRS Publishes Reminder About School Tax Deductions
- New September/October Tax Watch Now Available
- Court Ruling: Antarctica Is Not A Foreign Country
- Poker Tournaments Must Withhold Taxes
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September
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