Foreclosure

questions & answers

Question: Does the Arizona Revenue Service have something similar to the IRS' Mortgage Debt Relief Act of 2007? If you have a foreclosure and subsequent debt forgiven, does Arizona add it to your income or do they have a provision to exclude it (similar to the IRS' Mortgage Debt Relief Act of 2007)?

Answer: You may want to check with a tax professional. Generally Arizona follows the IRS' rules in regard to taxation related to debt forgiveness, but a tax professional will be able to tell you how the tax code applies to your specific situation.

QUESTIONS

  • Does the Arizona Revenue Service have something similar to the IRS' Mortgage Debt Relief Act of 2007? If you have a foreclosure and subsequent debt forgiven, does Arizona add it to your income or do they have a provision to exclude it (similar to the IRS' Mortgage Debt Relief Act of 2007)?

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OTHER LEGAL RESOURCES

  • State Bar of Arizona
    www.azbar.org
  • Maricopa County Bar
    www.maricopabar.org
    Referral number 602-257-4434
  • Pima County Bar
    www.pimacountybar.org
    Referral number 520-623-4625
  • National Domestic Violence Hotline
    800-799-7233
  • Bankruptcy Court Self Help Center
    866-553-0893
  • Certified Legal Document Preparer Program
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