that's anybody have information about Obama forginess law extenccion we have multiple short sale file schedule to close in jauary 2014
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that's anybody have information about Obama forginess law extenccion we have multiple short sale file schedule to close in jauary 2014
You need to be a member of Short Sale Superstars to add comments!
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IRS INSOLVENCY WORKSHEET Even if this doesn't get extended...don't worry too much. All a seller has to do is the IRS insolvency test.... on the insolvency worksheet click on the link or you can google IRS insolvency worksheet
if a seller's debts add up more than their assets...they are insolvent.... you can't get blood from a turnip...
read the rules :)
If the law is extended, they are covered.
If the law is not extended, they are not. Sellers need to talk to a CPA regarding the Insolvency test (IRS publication 982) to see what, if anything, they may owe.