Tax Geek Tuesday: The Sneaky Tax Consequences of Real Estate Repossessions

As tax advisors, the client problems that plague our daily existence can be divided into two categories. First are those situations when we recognize that a tax issue exists and are merely left with the challenge of chasing down the answer within the Code. The second category is the much more dangerous of the two ? it includes those situations when, because we're unaware of the existence of an obscure section of the Code, we fail to realize that there is an issue within our client's fact pat...