Attorney and author Julian Block is frequently quoted in the New York Times, Wall Street Journal, and the Washington Post. He has been cited as “a leading tax professional” (New York Times), an “accomplished writer on taxes” (Wall Street Journal), and “an authority on tax planning” (Financial Planning magazine). More information about his books can be found at julianblocktaxexpert.com.
Understandably, I'm flattered that my article has generated some back and forth.
Craig, The last two words of your comment underscore that there can be no two opinions about whether you are a perceptive person. Thanks.
Craig Smalley wrote:
Just a dumb question, someone ACTUALLY, amended a return, to get the exemption, perhaps EITC, all amounting to a few thousand dollars? Then paid someone to take this to Court? I think that is the REAL story here. Nice read
Entertaining article Well written.
Excellent summary of the law changes.
Take you cue from Nancy Reagan: Just say no.
Another way is to say at least two out of the five years that end on the sale date. Perhaps there are others who would like to weigh in.
That's a topic for another column. I'll keep it in mind when I discuss sales of rental property. Thanks for the reminder.
Based on what you've stated, it does seem that your client will be liable for taxes on the forgiven debt.