Disclaimer

The materials available on and throughout this web site have been prepared as a public resource by Paul E. Stansen, A Professional Law Corporation for informational and educational purposes only. The information provided is not intended to be, nor should it be, considered legal OR tax advice.

Every situation / transaction differs and the liability exposures and pivot points can be profound. BE CAUTIOUS!

Online readers are advised not to take, or refrain from taking, any action based upon materials within the web site. Confidential information or materials should not be sent to any individual or attorney Paul E. Stansen without first discussing the matter directly with him and entering into an attorney-client relationship with his law firm.

If applicable and in the case of foreclosure proceedings, online readers are advised to consult a tax specialist or personal certified public accountant to discuss the tax implications of whatever option is pursued whether it is a loan modification, short sale, deed in lieu of foreclosure, or actual foreclosure. Depending on which choice is pursued, a borrower could experience both recognition of ordinary income from the cancellation of debt and capital gains. Please check with your tax specialist.

IRS Circular 230 Tax Advice Disclaimer:  As required by U.S. Treasury Regulations governing tax practice, you are hereby advised that any written advice contained herein was not written or intended to be used (and cannot be used) by any taxpayer for the purpose of avoiding penalties that may be imposed under the U.S. Internal Revenue Code.