Posted by G.O. on July 07, 2009 at 22:32:20:
What do you mean by “assure”? Are you sure the seller will have no tax liability or you simply want to make him/her believe it? If the former, then explain your reasoning to the seller, show supporting documentation, having CPA involved would REALLY help. If the latter, than it would be misrepresentation at the very least.
TAX LIABILITY-SHORT SALE - Posted by Jack-E
Posted by Jack-E on May 11, 2009 at 15:08:18:
Is there any way to assure a seller in a short sale situation that they will not be liable to the IRS for the difference?
by the way - Posted by G.O.
Posted by G.O. on July 07, 2009 at 22:34:58:
Oh, yes, by the way, the seller cannot be liable to the IRS for the difference, s/he can be possibly liable for the taxes on the difference. But this wasn’t what you were asking, was it?