The forgoing are substantive corporate tax payer rules for earning lucrative tax credits in each foreclosure. The Treasury code or certain dates and numbers seem to be aligned with key timing devises and this is believed to give the insiders the edge in courts across America
With understanding both parties in a court case are fighting to prevail then assume if the consumer rob’s the foreclosing parties of the foregoing he will remove any least interest in proceeding meaning holding onto your foreclosed property .
The tax and loss of benefits is otherwise too great! For example , if a taxpayer did not claim on a federal tax return for any taxable year ending after September 11th, 2001 and on or before September 8, 2003, the additional first year depreciation deduction allowable for the remaining carryover basis of qualified property or 50-percent bonus depreciation property acquired in a transaction described in section 1031(a), (b), or (c), or in a transaction to which section 1033 applies
Additionally the taxpayer did not make an election not to deduct the additional first year depreciation deduction for the class of property applicable to the remaining carryover basis, the taxpayer may claim the additional first year depreciation deduction allowable for the remaining carryover basis in accordance with paragraph (f)(5) of this section.
What is the significance of these complex tax rules dating back to … 911 ?
- From 10-19-87 to 9-11-2001 . . . Starting with Black Monday
- From 9-11-2001 to 5-11-2018 . . . .Starting with 9-11
- From 5-11-2018 to 7-8-2015 . . . .Starting with 5-11 Dodd Frank sunset
From 5-11-2018 back 1038 days to the morning the NYSE Computers closed down the markets?
Follow the codes friend . . . follow the codes ! Such as §1038. Certain reacquisitions of real property (a) General rule is If- (1) a sale of real property gives rise to indebtedness to the seller which is secured by the real property sold, and (2) the seller of such property reacquires such property in partial or full satisfaction of such indebtedness, then, except as provided in subsections (b) and (d), no gain or loss shall result to the seller from such reacquisition, and no debt shall become worthless or partially worthless as a result of such reacquisition.
A series of transaction leading to requisition and resulting from series of like-kind exchanges is by law causal to and involuntary conversions. Get It?
You NEVER owned your home !
- Auditors/ Accountants