Thursday, January 15, 2015

Cancellation of Debt


CHANGE IN SCOPE FOR AARP FOUNDATION TAX-AIDE ONLY

 
When the extenders were passed by Congress, the Cancellation
of Debt income due to foreclosure was included.
Since there is no specific certification for this and there is no
training material available from SPEC to train our volunteers, this topic and
the associated form 982 will be out-of-scope for this year in the AARP
Foundation Tax-Aide program.  All other extenders for individuals will continue to be in-scope as they have been in the past.

 
Our volunteers who successfully certify at the Advanced
level will be able to continue to do cancellation of debt from Credit Cards
only.

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