foreclosure taxable income
1099 short sale question, does the IRS accept payment plans?
I may have to do a short sale. I know I may owe 30,000 to $40,000 in taxable income. Is the IRS somewhat lenient about how this is paid back?
Obviously, if someone goes through a short sale or foreclosure, they don’t have the means to pay back the loan immediately. Duh, IRS.
They will take payments.
