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February 23, 2012 Archives

Homeowners Who Negotiate Debt Relief Could Soon Face Massive Tax Bill

Homeowners Who Negotiate Debt Relief Could Soon Face Massive Tax Bill

by Lois Beckett
ProPublica, Feb. 23, 2012, 1:11 p.m.

If Congress doesn't renew a key 2007 law, people who get a principal reduction on their mortgages or short-sell their homes could be forced to pay taxes on their "gain."

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