KALIS & KLEIMAN Reminds Homebuyers of Looming Deadline for Short Sales Tax Break

DAVIE, Fla. - Nov. 11, 2013 - PRLog -- Contact
M. Scott Kleiman, Law Firm of Kalis & Kleiman
skleiman@kaliskleiman.com
(954) 791-0477
Kim Sailer
ksailer@bardmarketing.com

KALIS & KLEIMAN Reminds Homebuyers of Looming Deadline for Short Sales Tax Break

Davie, Florida - The Law Firm of Kalis & Kleiman reminder Florida borrowers that time is running out for them to complete a short sale (http://www.real-estate-lawyer.co/Short_Sales) on their home and receive the tax benefits. The Mortgage Forgiveness Debt Relief Act (http://www.irs.gov/pub/irs-utl/cancellation_of_debt_income___what_you_need_to_know.pdf) expires on December 31, 2013. If you don't act and get renewed by year-end, you could face a huge IRS bill in addition to losing your home.

Since 2007, homeowners whose bank or lender forgave unpaid mortgage debt after a short sale, principal reduction or foreclosure have not been required to count that money as income on their tax returns. While some hope the Act will be extended as in prior years, others suspect that since the economy continues to grow, the Federal government will start to take corrective actions to move towards normalcy.

Uncertain on what you should do regarding your home or property with the looming Mortgage Forgiveness Debt Relief Act deadline? Is a short sale right for your situation? KALIS & KLEIMAN recommend that you should always consult with an attorney as soon as possible to discuss your options including, without limitation, loan modification, short sale, deed in lieu of foreclosure and bankruptcy. Each situation is unique and should be handled on an individual basis.

Homeowners facing foreclosure or that have been evicted from their home, should seek sound legal advice and counsel. KALIS & KLEIMAN, P.A. are recognized and experienced Real Estate, Foreclosure Defense, Real Property Tax litigation lawyers. Neal R. Kalis and M. Scott Kleiman are not only lawyers, but also trusted counselors and advocates. The firm's personal attention to its clients' needs and desired results produces a customized approach that this firm delivers to each case. Neal and Scott are AV-rated, which indicates that an attorney has reached "the height of professional excellence" and is recognized for the "highest skill and integrity." They have more than 50 years of combined experience, and they have participated in thousands of transactions, settlements and trials.

KALIS & KLEIMAN will help you through the entire process in order to help you reach an outcome that is the most beneficial to your future. KALIS & KLEIMAN has earned a reputation of legal excellence and a history of successfully managing real estate matters and foreclosure cases.

The law firm of Kalis & Kleiman focuses on Commercial and Real Estate Law and Wills, Probate and Trusts. The firm was founded in 1996 and is headquartered in Davie, Florida, at 7320 Griffin Road, Suite 109. Attorneys, Neal Kalis, M. Scott Kleiman, and Aaron Karger can be contacted at 954.791.0477. Additional information about the law Firm of Kalis & Kleiman may be obtained from the firm's website at http://www.kaliskleiman.com or on Facebook at www.facebook.com/KALISKLEIMAN.