Sentences with phrase «relief provision»

Why is defeat of a mortgage relief provision good news?

Thus, the mortgage debt cancellation relief provision has already expired again, and its future beyond 2017 is very much in doubt.

The measure in some respects is for local governments a major and long - sought mandate relief provision they say is one of the main driver of the state's property taxes.

In more intense fighting, our work is more immediate relief provision.

The Senate Finance Committee has crafted and sent to the full Senate a package that would extend the mortgage relief provision for an additional year, through Dec. 31, 2013.

The taxpayer in this case, NRT Technology Corp, successfully applied before the Federal Court for judicial review in respect of a decision of an Assistant Director of the Toronto Tax Services Office of the Canada Revenue Agency denying NRT's request for the cancellation of a penalty under the Taxpayer Relief Provisions pursuant to subsection 220 (3.1) of the Income Tax Act (Canada).

With many mortgage delinquencies caused by long term unemployment and fallen home values, the government is adding relief provisions in hopes of keeping more homeowners out of foreclosure.

Finally, taxpayer relief provisions already allow the CRA to forgive interest when the taxpayer is experiencing financial hardship.

The IRS notice offers clarity and assurance to homeowner - borrowers that if they are in the trial period of the PRMP or HAMP programs, or will enter into the trial period before the end of 2016, even if the debt reduction does not occur until 2017, the tax relief provisions of the expiring provision will apply to them if the conditions outlined are met.

Abby Shaforth, an attorney at the National Consumer Law Center, stated that the group relief provision will only effectively provide relief if the Department of Education is committed to doing so.

If further assistance is needed, mortgage loans will be considered for permantent modification or other relief provisions as appropriate.

Fee relief provisions are detailed in the Hardship Policy.

In addition, both Fannie Mae and Freddie Mac directed lenders to hold off on reporting foreclosures and delinquencies and implemented disaster relief provisions to help affected borrowers.

An effort is under way in the Senate to renew legislation that spares underwater homeowners from having to pay income tax on mortgage debt forgiven by a lender, one of the chief supporters of the tax - relief provision told a group of politically active REALTORS ® during NAR's Federal Policy Conference in Washington.

The CGT relief provisions preserve the income tax exemption for capital gains accrued, but not yet realised, by a complying superannuation fund on CGT assets held throughout the pre-commencement period (see paragraph 7 of this Guideline).

File an adjustment: If you miss something on your return, you can go back 10 years to request an adjustment under the Taxpayer Relief Provisions.

The Senate Finance Committee has crafted and sent to the full Senate a package that would extend the mortgage relief provision for an additional year, through December 31, 2013.

The Senate Finance Committee has crafted and sent to the full Senate a package that would extend the mortgage relief provision for an...

For now, lawmakers have said the discussions do not center around linking the cap's renewal to mandate relief provisions.

In addition, under the taxpayer relief provisions, the CRA has the discretion to make adjustments to previously filed returns (10 years back) in relation to certain errors or omissions, on the taxpayer's request.

President Obama's FY 2013 Budget, presented to Congress February 13, includes a recommendation that Congress extend the mortgage cancellation tax relief provisions

The CGT relief provisions preserve the income tax exemption for capital gains accrued, but not yet realised, by complying superannuation funds and pooled superannuation trusts on CGT assets held throughout the pre commencement period (see paragraph 7 of this Guideline).

Although it is a relief provision, the relaxed funding rule raises revenue to pay for the Medicare payments because companies making smaller contributions to pension funds will claim smaller deductions and pay more income tax.

Adjustments under the Taxpayer Relief Provisions can take up to a year to process.

A trustee of a pooled superannuation trust with a relevant exempt proportion for the 2016 - 17 income year (refer to paragraph 68B of this Guideline) of 100 % should choose option one, and not option two, for any deemed capital gains under the CGT relief provisions (refer to paragraph 86A of this Guideline).

As already noted, the object of the CGT relief provisions is to provide transitional relief from certain capital gains arising in complying superannuation funds because members need to comply with the transfer balance cap or TRIS reforms commencing.

This Guideline provides guidance on the transitional CGT relief [A1] available for trustees of complying superannuation funds and pooled superannuation trusts because of the transfer balance cap and transition - to - retirement reforms commencing on 1 July 2017 (the CGT relief provisions).

This Guideline provides guidance on the transitional CGT relief [A1] available for superannuation funds because of the transfer balance cap and transition - to - retirement reforms commencing on 1 July 2017 (the CGT relief provisions).

If, at the time of his or her death, the testator was providing financial support to a dependant, and that dependant is not adequately provided for in the testator's will, the dependant may make a claim against the estate under a dependants» relief provision (in Ontario, these are found in the Succession Law Reform Act).

In particular, CARL raised the issue of the ineffectiveness of the relief provision in light of the Federal Court of Appeal's interpretation of «detrimental to the national interest.»

In addition to the mortgage cancellation relief provision, the package also includes a relief provision to limit the impact of the Alternative Minimum Tax (AMT) in 2012 and 2013.

Any amount that is not eligible for the relief provision will be taxed as ordinary income.

The relief provision can apply to either an original or a refinanced mortgage.