Submitted by Ronald Tennant with Metrocities Mortgage:
WebCPA.com (05/19/08)
The Internal Revenue Service's Revenue Procedure 2008-28 focuses on modifications to mortgages held through investment trusts, real estate mortgage investment conduits and other securitization vehicles. It spells out the types of modifications that will not trigger a challenge of the securitization vehicle's tax status. Only determinations made by the agency on or after May 16 for loan modifications approved on or before Dec. 31, 2010, are subject to the revenue procedure. The IRS is accepting public comments through July 15 on such issues as whether the revenue procedure should be applied to modifications occurring after 2010.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment