Las Vegas Attorney: So, the IRS wants $70,000 because of your foreclosure or short sale from last year. This is one of several reasons why we do foreclosure and short sale planning. Perhaps you thought the Primary Residence Exemption applied or the Insolvency Exemption or Bankruptcy—You need to study up on the details of the requirements because there are common errors people are making (addressed by this video). And some people can legally avoid this tax with a little planning.

There are several planning issues to foreclosures or short sales that you need to know about: Don’t go into it blind. This video is only for educational purposes and is no substitute for legal advice catered to your specific circumstances.

Courtesy of The Law Office of Eric Earley, Ltd.
www.PropertyLawGuy.com

Duration : 0:7:28

Technorati Tags: bankruptcy, bankruptcy planning, collections, deficiency, foreclosure, foreclosure planning, IRS, judgment, Las Vegas, law, legal consultation, lender rights, Nevada, offset, planning, real estate, self help, setoff, Short Sale, short sale planning, shortsale, strategy, tax, Tax Planning