BriersCPA helps 1099-C short sale and foreclosure taxpayers file their taxes right

Jan. 5, 2010 - PRLog -- BriersCPA has launched a new web site at http://www.BriersCPA.info to help taxpayers who will get 1099-C forms from lenders to file their taxes properly. Forgiven debt that occurs from short sales, foreclosures, loan modifications, and bankruptcies trigger 1099-C income forms that ordinarily result in taxation, except under certain exclusions. The rules are complex and confusing. Tax filers need to be aware of the exclusions to minimize taxes of such income and should rely only on a reputable CPA to avoid overpaying taxes.

Preparing a tax return with 1099-C income can be challenging—and reporting exclusions even more difficult. It is wise to consult with a CPA to be sure you get good advice when filing your taxes. Be certain your tax preparer is especially knowledgeable in the nuances of 1099-C income, or you could end up paying too much in income taxes.

BriersCPA is a full-service CPA firm located at 3301 Bonita Springs Road, Bonita Springs, FL 34134. For more information, visit http://www.BriersCPA.info or call BriersCPA at 239-390-8882.

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