california tax law cancellation of debt

Mortgage Forgiveness Debt Relief Extended | California Franchise ...
Apr 12, 2010 . Information about the California mortgage forgiveness debt relief law. . State of California Franchise Tax Board . See the federal law Mortgage Forgiveness Debt Relief Act and Debt Cancellation for more information.
http://www.ftb.ca.gov/aboutFTB/newsroom/Mortgage_Debt_Relief_Law.shtml

Tax News October 2011 | California Franchise Tax Board
October 2011 Tax News - Cancellation of Debt Review by Audit. . Publication 4681 or go to ftb.ca.gov for details on the California Mortgage Debt Relief Law.
http://www.ftb.ca.gov/professionals/taxnews/2011/October/Article_2.shtml

Foreclosure and Short Sales | California Franchise Tax Board
Skip to Main Content. CA.gov. State of California Franchise Tax Board . Cancellation of Debt, that provide the amount of debt cancelled, information to compute . (Note: There is pending legislation that would extend the California exclusion, .
http://www.ftb.ca.gov/professionals/taxnews/2009/July/Article_9.shtml

Mortgage Forgiveness Debt Relief Extension - California Franchise ...
Mar 16, 2009 . As a tax levy, the bill would be effective immediately and would be operative . the debt, the taxpayer may have to include the cancelled amount in . 580b of the California Code of Civil Procedure provides that indebtedness .
http://www.ftb.ca.gov/law/legis/09_10bills/sb97_012609.pdf

TaxAlmanac - A free online tax research resource and community ...
Feb 3, 2011 . Discussion Forum Index --> Tax Questions --> Cancellation of debt in . California uses an ancient version of the Internal Revenue Code and .
http://www.taxalmanac.org/index.php/Discussion:Cancellation_of_debt_in_california_-_SB_401_info_at_end

Real Estate Short Sale vs. Foreclosure Tax Consequences
Feb 13, 2012 . California debt cancellation tax relief for homeowners (expiring soon). California has enacted relief legislation for cancellation of mortgage debt .
http://www.realestateinvestingtax.com/shortsale.shtml

Cancellation of non-recourse debt = not included as income in tax ?
Jul 27, 2011 . Cancellation of non-recourse debt = not included as income in tax ? . California law is essentially the same, with a couple of minor exceptions .
http://www.loansafe.org/forum/foreclosure-laws/42205-cancellation-non-recourse-debt-not-included-income-tax.html

Consumer Confusion Over Debt Cancellation Relief | California ...
Mar 16, 2010 . Normally, cancellation of debt is treated as taxable ordinary income if the . SB 1055 in 2008 to partially conform state tax law with the 2007 Act, .
http://www.calbankers.com/compliance-bulletin/consumer-confusion-over-debt-cancellation-relief

Received a Form1099-C Cancellation of Debt for $3300 from a ...
Received a Form1099-C Cancellation of Debt for $3300 from a credit card debt. My partner declares me as a dependent on Fed taxes Along .
http://www.avvo.com/legal-answers/received-a-form1099-c-cancellation-of-debt-for--33-196834.html

Debt Forgiveness and California Taxes
Feb 3, 2010 . California Revenue and Tax Code Section 17144.5 generally conforms with . Such homeowners would not have cancellation of indebtedness .
http://activerain.com/blogsview/1471959/debt-forgiveness-and-california-taxes

San Diego Debt Cancellation Lawyer | Bankruptcy Legal Group
To find out more about what Debt Cancellation is and how it can help you, contact an . The rules applicable to farmers are complex and the assistance of a tax . Bankruptcy Legal Group, located in San Diego, California, works with clients .
http://www.bankruptcysd.com/Bankruptcy-Overview/Debt-Cancellations.shtml

Cancellation of Debt Income
Will I owe taxes on this cancellation of debt income (CODI)? . Under federal law, a financial entity is required to send a taxpayer a "Form . See the Bills.com resource California Loan Defaults and its comments for a discussion of this issue.
http://www.bills.com/cancellation-of-debt-income/

Economic Stimulus Legislation Provides Income Tax Deferral of ...
Feb 17, 2009 . Generally speaking, income called cancellation of indebtedness . until and unless the California legislature passes conforming tax legislation.
http://www.coxcastle.com/publications/publication.cfm?id=337

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1099-C surprise: IRS tax follows canceled debt - Credit Cards
Jan 27, 2012 . According to the IRS, the number of 1099-C cancellation of debt forms . "Make sure your tax preparer understands the rules related to these .
http://www.creditcards.com/credit-card-news/forgiven-debt-1099C-income-tax-3513.php

Taxes loom over foreclosures - Bankruptcy Law Network
The Internal Revenue Code provides that debt forgiven in bankruptcy does not result in taxable cancellation of debt income. In California these days, by the time .
http://www.bankruptcylawnetwork.com/tax-collector-looms-over-foreclosures/

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Home Foreclosure and Debt Cancellation
Dec 11, 2008 . 11, 2008 — The Mortgage Forgiveness Debt Relief Act of 2007 generally . the cancelled amount in income for tax purposes, depending on the .
http://www.irs.gov/newsroom/article/0,,id=174034,00.html