Form 1098-MA, Mortgage Assistance Payments #historical #interest #rates


#federal mortgage assistance

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Form 1098-MA, Mortgage Assistance Payments

This form is used to provide information to the IRS and to homeowners regarding:

  • mortgage payments made by the homeowners, and
  • mortgage assistance payments made by you with funds allocated from the Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (HFA Hardest Hit Fund).

Current Products

Recent Developments

Other Items You May Find Useful

Form 8809. Application for Extension of Time To File Information Returns

Comment on Form 1098-MA

Use the Comment on Tax Forms and Publications web form to provide feedback on the content of this product. Although we cannot respond individually to each comment, we do appreciate your feedback and will consider all comments submitted.

CAUTION: We cannot respond to tax-related questions submitted using this page. Instead, please see our Tax Law Questions page.

Page Last Reviewed or Updated: 17-Dec-2015


Mortgage Deed – Free Legal Form #mortgage


#mortgage forms

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This Mortgage is given by ________________________________, hereinafter called Borrower, of ____________________________ to ________________________________, hereinafter called Lender, which term includes any holder of this Mortgage, to secure the payment of the PRINCIPAL SUM of $________________ together with interest thereon computed on the outstanding balance, all as provided in a Note having the same date as this Mortgage, and also to secure the performance of all the terms, covenants, agreements, conditions and extensions of the Note and this Mortgage.

In consideration of the loan made by Lender to Borrower and for the purpose expressed above, the Borrower does hereby grant and convey to Lender, with MORTGAGE COVENANTS, the land with the buildings situated thereon and all the improvements and fixtures now and hereafter a part thereof, being more particularly described in Exhibit A attached hereto and made a part hereof and having a street address of:

(Attach Property Description)

Borrower further covenants and agrees that:

1. No superior mortgage or the note secured by it will be modified without the consent of Lender hereunder.

2. Borrower will make with each periodic payment due under the Note secured by this Mortgage a payment sufficient to provide a fund from which the real estate taxes, betterment assessments and other municipal charges which can become a lien against the mortgaged premises can be paid by Lender when due. This provision shall be effective only in the event that a fund for the same purpose is not required to be established by the holder of a senior mortgage.

3. In the event that Borrower fails to carry out the covenants and agreements set forth herein, the Lender may do and pay for whatever is necessary to protect the value of and the Lender’s rights in the mortgaged property and any amounts so paid shall be added to the Principal Sum due the Lender hereunder.

4. As additional security hereunder, Borrower hereby assigns to Lender, Borrower’s rents of the mortgaged property, and upon default the same may be collected without the necessity of making entry upon the mortgaged premises.

5. In the event that any condition of this Mortgage or any senior mortgage shall be in default for fifteen (15) days, the entire debt shall become immediately due and payable at the option of the Lender. Lender shall be entitled to collect all costs and expenses, including reasonable attorney’s fees incurred.

6. In the event that the Borrower transfers ownership (either legal or equitable) or any security interest in the mortgaged property, whether voluntarily or involuntarily, the Lender may at its option declare the entire debt due and payable.

7. This Mortgage is also security for all other direct and contingent liabilities of the Borrower to Lender which are due or become due and whether now existing or hereafter contracted.

8. Borrower shall maintain adequate insurance on the property in amounts and form of coverage acceptable to Lender and the Lender shall be a named insured as its interest may appear.

9. Borrower shall not commit waste or permit others to commit actual, permissive or constructive waste on the property.

10. Borrower further covenants and warrants to Lender that Borrower is indefeasibly seized of said land in fee simple; that Borrower has lawful authority to mortgage said land and that said land is free and clear of all encumbrances except as may be expressly contained herein.

This Mortgage is upon the STATUTORY CONDITION and the other conditions set forth herein, for breach of which Lender shall have the STATUTORY POWER OF SALE to the extent existing under State law.

Executed under seal this _____ day of _________________, 20_____.

________________________________
[Signature of Borrower]

________________________________
[Printed or Typed Name of Borrower]

________________________________
[Signature of Lender]

________________________________
[Printed or Typed Name of Lender]

________________________________
[Signature of Witness #1]

________________________________
[Printed or Typed Name of Witness #1]

________________________________
[Signature of Witness #2]

________________________________
[Printed or Typed Name of Witness #2]

STATE OF _______________________
COUNTY OF _______________________

On________________________________ me, ________________________________, personally appeared ________________________________, ________________________________, ________________________________, and ________________________________ personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

WITNESS my hand and official seal.

Affiant: ____ Known ____ Unknown

ID Produced: _____________________


Request for Mortgage Assistance Form #subprime #mortgages


#mortgage assistance

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Request for Mortgage Assistance Form

As part of your loan modification application, you’ll need to provide information about yourself, co-borrowers, previous loan modification applications, the property, and details of your hardship. Your home preservation specialist will tell you if this is the correct form to use. The Request for Mortgage Assistance form also asks if you:

  • Are working with a credit-counseling agency
  • Are a servicemember
  • Have filed for bankruptcy
  • Have other liens against the property or have put it up for sale

Request for Mortgage Assistance

Avoid delays in processing your application

For all documents you’re asked to provide:

  • Make sure the copies you send are legible.
  • Do not include documents that have been altered with correction fluid or by other means.
  • Submit the entire requested document and include all pages (even blank ones).

* You need Adobe ® Reader ® to read PDF files. Download Adobe Reader for free.

Equal Housing Lender

Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A.


Form a Delaware LLC $180, Delaware Limited Liability Company, why form an llc in delaware.#Why


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Why Form a Delaware LLC

Why is the Delaware Limited Liability Company the best LLC on the planet? It s a question we get asked a lot. In a state best known for its business entities, the Delaware LLC sometimes gets overlooked, as its older, more distinguished sibling, the corporation, receives a lot of the attention. We think that s mostly because Delaware didn t allow the formation of LLCs until 1991 when it passed its first Limited Liability Company Act. Since that time, however, the Delaware LLC has offered the same asset protections and tax advantages that a corporation offers. Often the LLC is the simpler, more flexible choice for small businesses. Below, you ll find a list of the advantages that make the Delaware LLC one of the world s best business entities:

  1. Simple and Secure

Of all the LLCs in the known universe, the Delaware LLC is by far the simplest to form. The Delaware Division of Corporations requires only a minimal amount of information in an LLC s formation documents (called the Certificate of Formation). This small amount of required information not only makes it easy to start an LLC in Delaware, but it also helps to keep your identity and personal information secure. Since much of your personal information isn t required to form an LLC in Delaware, your information won t be published on public documents. And, LLCs in Delaware don t file annual reports, so even after your Delaware LLC is formed, your information will remain secure.

  • Tax Exemptions

    As the most business-friendly state in the US, Delaware is oftentimes referred to as a tax haven. While this is a misnomer, Delaware actively tries to maintain a healthy business atmosphere and offers benefits that other states don t, all of which an LLC can take advantage. Our state doesn t tax “intangible income” (like patent and trademark leases), which has made Delaware an attractive state in which to form holding companies (LLCs and corporations formed to “hold” assets, intangible or otherwise). Our state has also created incentives for LLCs formed in Delaware that don t operate in Delaware. For example, according to § 1902, you ll pay no state income tax as long as your LLC in Delaware doesn t do business in Delaware.

  • No Double Taxation

    Operating as a Delaware LLC gives you flexible taxation options. An LLC in Delaware can choose to be taxed as a pass-through entity, an S corp, or a C corp. Corporations in Delaware and elsewhere are by default taxed as C corporations. For many small businesses this tax structure doesn t make sense, as C corp profits can be taxed twice (once as corporate income, a second time as personal income). Delaware LLCs, by default, aren t taxed that way. LLCs in Delaware pass profits directly to their members, and the LLC s profits are taxed only once, as the members personal income. However, LLCs can also opt to be taxed as an S corp or a C corp if the members choose, adding to the LLC s flexibility as a business entity.

  • Strong Business Laws

    One of the most attractive features of starting an LLC in Delaware is that our state offers the best-known, most-carefully-studied business laws in the US. Because of Delaware s long history as the nation s leader in business formation and business law, its codes and legal statutes are studied in law schools around the country. Delaware even has its own court specifically for businesses; it s called the Court of Chancery. Cases in the Court of Chancery are argued in front of judges, not juries, and any legal dispute you have has likely already been argued in court, so businesses usually know ahead of time whether to fight a lawsuit or settle. This knowledge can be especially beneficial for companies who are sued often, as it saves time and money spent on legal fees.

  • No Business License Required

    According to Section 2301(b) and (d) of our state s code, Delaware LLCs not doing business in Delaware are not required to obtain a business license, register with the Department of Revenue, or pay Delaware s gross receipts tax.

  • Few Formalities

    Possibly the greatest advantage of starting an LLC in Delaware is that a Delaware LLC requires so little maintenance, which is often perfect for small businesses. LLCs in Delaware do not file annual reports (LLCs pay a flat $300 annual tax) and it s due on June 1 every year and can be paid online. LLCs require less paperwork and administrative formalities than corporations. Delaware LLCs don t need to hold annual shareholders or board of directors meetings. Overall, LLCs tend to be the simpler entity.

  • Can I form an LLC in Delaware if I live in a different state or country?

    Yes, absolutely. The only physical requirement for Delaware LLCs is that the limited liability company must have a registered agent in Delaware. A person doesn t need to live in Delaware to start an LLC in Delaware. Some of the advantages of Delaware LLCs are only available to nonresidents. The benefits of starting an LLC in Delaware as a nonresident are listed below:

    Delaware does not have a sales tax on goods and services.

  • No state income tax

    Delaware LLCs taxed as S corps, and LLCs in Delaware that do no business in Delaware, don t pay state income taxes. Residents of other states and other countries may be obligated to pay their home state s income taxes, but they will not have to pay Delaware s income tax.

  • No ad valorem tax

    Delaware doesn t have an intangible personal property tax. If the state or country in which you live doesn t have one either, you shouldn t have to pay any tax on intangible personal property like patents or trademarks.

  • Should I form a Delaware LLC or a corporation?

    Business entities are not one-size-fits-all, but the advantages of Delaware LLCs and corporations are highlighted below:


    Sample Patient Registration Form #patient #registration #form,sample #patient #registration #form,free #patient #registration #form,download #patient #registration


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    Sample Patient Registration Form

    Introduction to Patient Registration Form:

    In the field of medical patient registration refers to two different options. One option is related to collection of data pertaining to new patients and involves generation of patient record. The other option is related to collection of information that is used in computer assisted surgery which covers the accurate and detailed studies of medical imaging which are necessary to guide the computer safely and accurately in surgery.

    Use of Sample Patient Registration Form:

    Patient registration form is used when patients enter a new clinic, treatment center or hospital. It is most of the times mandatory for patients to fill out a form known as admission form that contains very basic information about the patients and medical history if any. This information includes the contact information of the patients, and also the payment guarantees, the designation of the party that is responsible for payment. This registration form also included information regarding insurance billing, particularly if a patient is entitled to insurance cover for health care expenses.

    Implementation of Patient Registration Form in terms of verifying official record

    During the process of patient registration. patients will have to provide information about insurance cards. The patient registration form has to be complete and detailed in every aspect and the patients should always ensure to update the information about medical history or contact details, if there is any change at any time. In case of emergency, sometimes a patient can undergo any required treatment without providing registration information, and any friend or family can fill the patient registration form and later the patient himself can verify the information and approve it. Just in case the patient is alone and has no assistance and has no identity at the time of admission, the hospital or clinic can temporarily set up registration.

    Here is a preview of sample patient registration form along with download options.


    Mortgage Deed – Free Legal Form #residential #mortgage #rates


    #mortgage forms

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    This Mortgage is given by ________________________________, hereinafter called Borrower, of ____________________________ to ________________________________, hereinafter called Lender, which term includes any holder of this Mortgage, to secure the payment of the PRINCIPAL SUM of $________________ together with interest thereon computed on the outstanding balance, all as provided in a Note having the same date as this Mortgage, and also to secure the performance of all the terms, covenants, agreements, conditions and extensions of the Note and this Mortgage.

    In consideration of the loan made by Lender to Borrower and for the purpose expressed above, the Borrower does hereby grant and convey to Lender, with MORTGAGE COVENANTS, the land with the buildings situated thereon and all the improvements and fixtures now and hereafter a part thereof, being more particularly described in Exhibit A attached hereto and made a part hereof and having a street address of:

    (Attach Property Description)

    Borrower further covenants and agrees that:

    1. No superior mortgage or the note secured by it will be modified without the consent of Lender hereunder.

    2. Borrower will make with each periodic payment due under the Note secured by this Mortgage a payment sufficient to provide a fund from which the real estate taxes, betterment assessments and other municipal charges which can become a lien against the mortgaged premises can be paid by Lender when due. This provision shall be effective only in the event that a fund for the same purpose is not required to be established by the holder of a senior mortgage.

    3. In the event that Borrower fails to carry out the covenants and agreements set forth herein, the Lender may do and pay for whatever is necessary to protect the value of and the Lender’s rights in the mortgaged property and any amounts so paid shall be added to the Principal Sum due the Lender hereunder.

    4. As additional security hereunder, Borrower hereby assigns to Lender, Borrower’s rents of the mortgaged property, and upon default the same may be collected without the necessity of making entry upon the mortgaged premises.

    5. In the event that any condition of this Mortgage or any senior mortgage shall be in default for fifteen (15) days, the entire debt shall become immediately due and payable at the option of the Lender. Lender shall be entitled to collect all costs and expenses, including reasonable attorney’s fees incurred.

    6. In the event that the Borrower transfers ownership (either legal or equitable) or any security interest in the mortgaged property, whether voluntarily or involuntarily, the Lender may at its option declare the entire debt due and payable.

    7. This Mortgage is also security for all other direct and contingent liabilities of the Borrower to Lender which are due or become due and whether now existing or hereafter contracted.

    8. Borrower shall maintain adequate insurance on the property in amounts and form of coverage acceptable to Lender and the Lender shall be a named insured as its interest may appear.

    9. Borrower shall not commit waste or permit others to commit actual, permissive or constructive waste on the property.

    10. Borrower further covenants and warrants to Lender that Borrower is indefeasibly seized of said land in fee simple; that Borrower has lawful authority to mortgage said land and that said land is free and clear of all encumbrances except as may be expressly contained herein.

    This Mortgage is upon the STATUTORY CONDITION and the other conditions set forth herein, for breach of which Lender shall have the STATUTORY POWER OF SALE to the extent existing under State law.

    Executed under seal this _____ day of _________________, 20_____.

    ________________________________
    [Signature of Borrower]

    ________________________________
    [Printed or Typed Name of Borrower]

    ________________________________
    [Signature of Lender]

    ________________________________
    [Printed or Typed Name of Lender]

    ________________________________
    [Signature of Witness #1]

    ________________________________
    [Printed or Typed Name of Witness #1]

    ________________________________
    [Signature of Witness #2]

    ________________________________
    [Printed or Typed Name of Witness #2]

    STATE OF _______________________
    COUNTY OF _______________________

    On________________________________ me, ________________________________, personally appeared ________________________________, ________________________________, ________________________________, and ________________________________ personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

    WITNESS my hand and official seal.

    Affiant: ____ Known ____ Unknown

    ID Produced: _____________________


    Quality Assurance (QA) #quality #assurance #report #form


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    Quality Assurance (QA) / Quality Control (QC) Inspector Salary

    Job Description for Quality Assurance (QA) / Quality Control (QC) Inspector

    A quality assurance (QA) or quality control (QC) inspector works for a company to inspect, test, and sample materials, parts, or products for defects and any deviations from specifications. The inspector will discard anything that does not meet with company standards, including products, materials, and equipment used by the company in processing. A QA or QC inspector will observe production operations and equipment to ensure that specifications are being met and to make or order necessary adjustments to processes or assemblies. The inspector will discuss results and findings with those in charge of the products, and recommend any required corrective actions. A high school diploma is required to obtain employment as a quality assurance or quality control inspector, and a formal college degree (bachelor’s or associate’s, depending on employer preferences) is also sometimes needed. Previous experience carrying out the duties and responsibilities of an inspector is preferable, but on-the-job training can be provided by many companies. A keen attention to detail is central to the job in order to detect defects that could be easily missed by the consumer but still present a safety risk, and the ability to communicate clearly and effectively when reporting issues and defects is necessary. An inspector should be able to interpret blueprints and other drawings that detail product specifications. Experience with measuring tools is required as well, and a quality assurance inspector should be able to work under pressure. Hours will vary, but an inspector can plan on working a set schedule that could be on the first, second, or third shift in a production factory or plant. (Copyright 2017 PayScale.com)

    Quality Assurance (QA) / Quality Control (QC) Inspector Tasks

    • Inspect, test, and sample materials or assembled parts or products for defects and deviations from specifications.
    • Observe and monitor production operations and equipment to ensure conformance to specifications and make or order necessary process or assembly adjustments.
    • Discuss inspection results with those responsible for products, and recommend necessary corrective actions.
    • Discard or reject products, materials, and equipment not meeting specifications.

    Common Career Paths for Quality Assurance (QA) / Quality Control (QC) Inspector

    Plan your career path. Drag job titles to investigate a particular path and click on a link to see where particular career can lead.

    Though it’s uncommon, some Quality Control Inspectors move into roles as Quality Managers, where pay is an average $73K per year. Quality Control Inspectors most frequently become Manufacturing Quality Assurance Inspectors and Quality Assurance Technicians even though median compensation is $3K lower and $3K lower, respectively.

    Quality Assurance (QA) / Quality Control (QC) Inspector Job Listings

    Popular Employer Salaries for Quality Assurance (QA) / Quality Control (QC) Inspector

    The Boeing Company, Honeywell Aerospace, Spacex, BAE Systems Inc. and General Electric Co (GE) are some prominent firms with considerable interest in employing a large team of Quality Control Inspectors. Spacex attracts talent by shelling out the biggest paychecks in the area — the median in that office is $80K. Other employers shelling out big bucks include Bombardier, U.S. Air Force (USAF), and The Boeing Company, where Quality Control Inspectors typically earn around $74K, $59K, or $58K, respectively.

    Also sliding in at the lower end of the scale are Eaton Corporation ($48K), Honeywell International Inc ($48K), and General Electric Co (GE) ($54K).

    Popular Skills for Quality Assurance (QA) / Quality Control (QC) Inspector

    This chart shows the most popular skills for this job and what effect each skill has on pay.

    Quality Control Inspectors seem to wield many skills on the job. Most notably, facility with Construction Site Inspection, Safety Compliance, and Cmm are correlated to pay that is significantly above average, leading to increases of 129 percent, 44 percent, and 20 percent, respectively. Those listing Microsoft Outlook as a skill should be prepared for drastically lower pay. INSPECTION and Team Leadership also typically command lower compensation. It is often found that people who know Quality Assurance / Quality Control are also skilled in Microsoft Excel, Blueprints, and Microsoft Office. Most people experienced in Precision Measurement also know Blueprints.

    Pay by Experience Level for Quality Assurance (QA) / Quality Control (QC) Inspector

    Pay by Experience for a Quality Assurance (QA) / Quality Control (QC) Inspector has a positive trend. An entry-level Quality Assurance (QA) / Quality Control (QC) Inspector with less than 5 years of experience can expect to earn an average total compensation of $35,000 based on 2,187 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Quality Assurance (QA) / Quality Control (QC) Inspector with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $43,000 based on 1,155 salaries. An experienced Quality Assurance (QA) / Quality Control (QC) Inspector which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $47,000 based on 898 salaries. A Quality Assurance (QA) / Quality Control (QC) Inspector with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $55,000 based on 415 salaries.

    Pay Difference by Location

    For those looking to make money, Quality Control Inspectors in Houston enjoy an exceptional pay rate, 34 percent above the national average. Quality Control Inspectors will also find cushy salaries in New York (+21 percent), Phoenix (+17 percent), Denver (+15 percent), and Seattle (+14 percent). Those in the field find the lowest salaries in Wichita, 5 percent below the national average. Two other places where employers salaries are below the median are Cleveland and Atlanta (2 percent lower).

    Quality Assurance (QA) / Quality Control (QC) Inspector Reviews

    Q: What is it like working as a Quality Assurance (QA) / Quality Control (QC) Inspector?

    Quality Assurance (QA) / Quality Control (QC) Inspector in South Point:

    Pros: Working directly with teams by delivering results when testing their features. Being able to categorize and organize my tasks based on when they are due.

    Cons: I ve forgotten a lot of my coding technique. If I had more time to work on my Android development, that d be great.

    Quality Assurance (QA) / Quality Control (QC) Inspector in Mason:

    Pros: I have a boss who is willing to help me and teach me. I m able to work with live customer data and make a significant impact on an internal data migration project, so I am able to see that my work is important. Also, my boss trusts me so I am able to give input that I know will be listened to and taken into account.

    Cons: My biggest complaint is the pay and benefits. I am payed $17/hour which is the same as a our employees who only do data entry. I am above this team, and even have helped train this team on certain things and created scorecards to evaluate the individuals on the team and yet I am payed the same amount as them. Also, in my first year at Cintas, I did not receive any paid time off, and I only get 5 days of paid time off for my second year. This seems like a very small amount especially when you have family all over the US. I believe that based on the work I have done and continue to do for this company, that I deserve a salaried position that pays a good amount more than I am currently being paid and a better vacation package. I don t feel as if my work is being ignored, because I am told by multiple people that I am doing great work, but I would like to see that appreciation in the form of a promotion/raise.

    Quality Assurance (QA) / Quality Control (QC) Inspector in Brakpan:

    Office conditions are good.

    Pros: Challenging and learning new things.


    Mortgage Workouts, Now Tax-Free for Many Homeowners; Claim Relief on Newly-Revised IRS Form #loan #rate


    #federal mortgage relief

    #

    Like – Click this link to Add this page to your bookmarks Share – Click this link to Share this page through email or social media Print – Click this link to Print this page

    Mortgage Workouts, Now Tax-Free for Many Homeowners; Claim Relief on Newly-Revised IRS Form

    Updated with new note at bottom — Jan. 5, 2015
    Updated with FAQs at bottom — Feb. 28, 2008
    Updated with new link — Dec. 11, 2008

    IR-2008-17, Feb. 12, 2008

    WASHINGTON — Homeowners whose mortgage debt was partly or entirely forgiven during 2007 may be able to claim special tax relief by filling out newly-revised Form 982 and attaching it to their 2007 federal income tax return, according to the Internal Revenue Service.

    Normally, debt forgiveness results in taxable income. But under the Mortgage Forgiveness Debt Relief Act of 2007, enacted Dec. 20, taxpayers may exclude debt forgiven on their principal residence if the balance of their loan was $2 million or less. The limit is $1 million for a married person filing a separate return. Details are on Form 982 and its instructions, available now on this Web site.

    “The new law contains important provisions for struggling homeowners,” said Acting IRS Commissioner Linda Stiff. “We urge people with mortgage problems to take full advantage of the valuable tax relief available.”

    The late-December enactment means that reporting procedures for this law change were not incorporated into tax-preparation software or IRS forms. For that reason, people using tax software should check with their provider for updates that include the revised Form 982. Similarly, the IRS is now updating its systems and expects to begin accepting electronically-filed returns that include Form 982 by March 3. The paper Form 982 is now being accepted, but the IRS reminds affected taxpayers to consider filing electronically, which greatly reduces errors and speeds refunds.

    The new law applies to debt forgiven in 2007, 2008 or 2009. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, may qualify for this relief. In most cases, eligible homeowners only need to fill out a few lines on Form 982 (specifically, lines 1e, 2 and 10b).

    The debt must have been used to buy, build or substantially improve the taxpayer’s principal residence and must have been secured by that residence. Debt used to refinance qualifying debt is also eligible for the exclusion, but only up to the amount of the old mortgage principal, just before the refinancing.

    Debt forgiven on second homes, rental property, business property, credit cards or car loans does not qualify for the new tax-relief provision. In some cases, however, other kinds of tax relief, based on insolvency, for example, may be available. See Form 982 for details.

    Borrowers whose debt is reduced or eliminated receive a year-end statement (Form 1099-C) from their lender. For debt cancelled in 2007, the lender was required to provide this form to the borrower by Jan. 31, 2008. By law, this form must show the amount of debt forgiven and the fair market value of any property given up through foreclosure.

    The IRS urges borrowers to check the Form 1099-C carefully. Notify the lender immediately if any of the information shown is incorrect. Borrowers should pay particular attention to the amount of debt forgiven (Box 2) and the value listed for their home ( Box 7).

    Note: Subsequent legislation extended this relief through 2014. Thus this relief now applies to debt forgiven in calendar years 2007 through 2014.

    • Frequently asked questions on the Mortgage Forgiveness Debt Relief Act

    Form 982. Reduction of Tax Attributes Due to Discharge of Indebtedness

    Publication 4681. Canceled Debts, Foreclosures, Repossessions, and Abandonments


    Form 1098-MA, Mortgage Assistance Payments #obama #mortgage #relief


    #federal mortgage assistance

    #

    Like – Click this link to Add this page to your bookmarks Share – Click this link to Share this page through email or social media Print – Click this link to Print this page

    Form 1098-MA, Mortgage Assistance Payments

    This form is used to provide information to the IRS and to homeowners regarding:

    • mortgage payments made by the homeowners, and
    • mortgage assistance payments made by you with funds allocated from the Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (HFA Hardest Hit Fund).

    Current Products

    Recent Developments

    Other Items You May Find Useful

    Form 8809. Application for Extension of Time To File Information Returns

    Comment on Form 1098-MA

    Use the Comment on Tax Forms and Publications web form to provide feedback on the content of this product. Although we cannot respond individually to each comment, we do appreciate your feedback and will consider all comments submitted.

    CAUTION: We cannot respond to tax-related questions submitted using this page. Instead, please see our Tax Law Questions page.

    Page Last Reviewed or Updated: 17-Dec-2015


    Why Form an LLC in Nevada? #form #llc #nevada


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    Why Form an LLC in Nevada?

    A Nevada limited liability company (LLC) is a business organizational structure that blends the legal aspects of a corporation and partnership. The owners, known as members, of a Nevada LLC have personal asset protection from creditors of the company under state law, but other benefits exist, especially if the LLC primarily conducts business in the state.

    Tax Savings

    The members of an LLC formed in Nevada do not pay personal income tax on profits received from business conducted in the state, as Nevada does not have personal income taxes. Profits made in another state may be taxable in accordance with the state’s tax laws. No gift, inheritance or admission taxes, or taxes on tickets to the public for places like amusement parks, are levied in Nevada. Nevada does not share information about LLCs to the Internal Revenue Service, the government agency responsible for the collection and enforcement of federal taxes.

    Minimum Requirements

    The minimum requirements to form an LLC in Nevada are less restrictive than those found in other states. The members of the LLC do not have to live or conduct meetings in Nevada, and the LLC paperwork may be filed by phone, fax or mail. No annual business meetings are required and the LLC does not have to draft an operating agreement, although doing so provides a plan for the company’s management. Nevada laws favor the operating agreement and generally permit the agreement’s provisions to oversee the internal procedures of the LLC.

    Asset Protection

    Nevada laws do not allow a creditor to attach a standard money judgment to the interest of an LLC member. The creditor may be able to obtain a court “charging order” allowing the creditor to place a lien on the profits that the LLC member is entitled to receive.

    Privacy

    Nevada law is geared toward protecting the privacy of individuals engaged in business. The names and addresses of an LLC’s board members are not a matter of public record, as no requirement for the public naming of the individuals exists in state laws as of 2010.

    View Site Directory LegalZoom.com, Inc. All rights reserved.

    Disclaimer: Communications between you and LegalZoom are protected by our Privacy Policy but not by the attorney-client privilege or as work product. LegalZoom provides access to independent attorneys and self-help services at your specific direction. We are not a law firm or a substitute for an attorney or law firm. We cannot provide any kind of advice, explanation, opinion, or recommendation about possible legal rights, remedies, defenses, options, selection of forms or strategies. Your access to the website is subject to our Terms of Use .