New Federal Budget Extends Mortgage Forgiveness Exclusion
Written by Jamie Reece
The newest Federal Budget recently passed has extended expired provisions which provide exclusion of income up to $2,000,000 for the discharge of debt from principal residence. This exclusion expired in 2017, and with the new budget has been renewed and extended through 2020.
For more information about mortgage debt cancellation, and to determine if you may qualify for this exclusion, please visit the IRS's Home Foreclosure & Debt Cancellation page (please keep in mind it may take a few weeks for the IRS to update based on the adoption of this new law).
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By digitally signing this form you are providing with your express written consent to send you business and marketing communications via text messages (SMS), email, and by calls or prerecorded messages dialed by a natural person or by an automatic or automated telephone dialing system. This express written consent applies to each such email address or telephone number that you provide to us now or in the future and permits such communications regardless of their purpose, unless you opt out of SMS marketing communication when submitting this form. Consent not required to register. Message frequency varies, message and data rates may apply. Text STOP to cancel, call for help.
