Quote of the Week: Miralanda Wilson on Finding the Mega-Millions Ticket.
No. 829 And you thought you were disorganized:
The 1940 Census is On Line.
No. 828 If you go to the Carnegie Library, you can look up information from every US Census report since 1800 through 1930. However, as of this week, you can view the 1940 Census report on line. This information was just made public. But you must search by address, not name. Here is the link. […]
Fifth Third Bank and RESPA
The Post Gazette ran a story today (Saturday, April 7) on a new suit in the U. S. District Court that alleges violations of the Real Estate Settlement Procedures Act (RESPA). In essence, the plaintiffs allege that a subsidiary Fifth Third had a reinsurance contract with the company that provided mortgage insurance in two residential loans. The plaintiffs allege that, without disclosure, Fifth Third gave something of value (the reinsurance contract) to the mortgage insurer in exchange for the selection of the mortgage insurer in that transaction.
Forgiven Mortgage Debt is Excludable from Income, at least through 2012.
No. 826 If you or your client has received a 1099 from a former mortgage lender following a short sale or other form of mediation, be aware that Federal law enables qualified taxpayers to exclude the income imputed in the 1099. Under the Mortgage Foregiveness Debt Relief Act of 2007, acquisition debt that is forgiven […]