Wednesday, May 29, 2013

Credit Card California Credit Card Debt Relief Act 2012

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Credit Card Payments 2012 California Standard Deduction Amounts: Congress enacted the Mortgage Debt Relief Act of 2007, granting borrowers up to $2 million in tax protection on cancelled debt related to a personal home. ... Doc Retrieval

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"Generally, if a debt you owe is canceled or forgiven, other than as a gift or bequest, you must include the canceled amount in your income. You have no income from the canceled debt if it is intended as a gift to you. ... Read Article

Government Housing Program Specialist (GHPS): California
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