Eric CruzThe first quarter due date for estimated tax payments to the Internal Revenue Service (“IRS”) is fast approaching, and will be here on Tuesday, April 18, 2017. It is important for individuals and business owners to review their tax situation and make this initial payment using the appropriate forms.
The IRS requires the withholding and pre-payment of at least 90 percent of your current tax obligation,
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Eric CruzUnfortunately for many homeowners in Florida who own property with mortgage balances larger than the property’s value, the Mortgage Forgiveness Debt Relief Act (the “Act”) expired on December 31, 2013. The Act once created an exemption from taxation for discharge of indebtedness income when it related to the sale of a qualified principal residence.
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Eric CruzAs part of the recent fiscal cliff deal, Congress extended the Mortgage Forgiveness Debt Relief Act through the end of 2013. This is great news for those who may complete a short sale, loan modification, or other mortgage workout in 2013.
As part of a short sale, loan modification,
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