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RB 2012A-1 Statewide Bond Issue The Mississippi Home Corporation is releasing the new 2012A-1 Mortgage Revenue Bond issue coupled with an optional 2nd mortgage. The first release will be for $3,000,000 with a 3.650% rate for the 1st mortgage and the optional 2nd mortgage. The Program Notice, MRB Reservation Form (MRB 001) and MRB Checklist (MRB002) are attached. The following loan programs are allowable under the issues: - Federal Housing Administration (FHA): In addition to FHA Section 203/7(b.
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Mtg FAQ
Strategies to Minimize Tax Liability Allocate Damages Appropriately. ... Spread Payments Over Time. ... Consider Qualified Settlement Funds. ... Take Advantage of Capital Gains Treatment. ... Seek Professional Tax Advice. ... Eliminate the Taxation of Attorney Fee Portion.
Settlement money and damages collected from a lawsuit are considered income, which means the IRS will generally consider that money taxable. However, personal injury settlements are an exception (most notably: car accident settlements and slip and fall settlements are nontaxable).
You do not have to report certain non-taxable amounts as income, including the following: lottery winnings of any amount, unless the prize can be considered income from employment, a business or property, or a prize for achievement. most gifts and inheritances.
Personal injury settlement funds you receive from the province or territory as a victim of a motor vehicle accident (MVA) or a crime in Canada do not need to be claimed as income, as they are not taxable. This usually applies to slip and falls, car accidents and the like. Is My Personal Injury Settlement Taxable in Canada? jameshbrown.com https://.jameshbrown.com › is-my-personal-injury-s... jameshbrown.com https://.jameshbrown.com › is-my-personal-injury-s...
The general rule regarding taxability of amounts received from settlement of lawsuits and other legal remedies is Internal Revenue Code (IRC) Section 61. This section states all income is taxable from whatever source derived, unless exempted by another section of the code.
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