Will the current Budget Bill help with Phantom Income Taxation for Short Sellers?
The good news is that according to the Wall Street Journal the current temporary spending bill passed by the House of Representatives DOES have a provision to extend the Mortgage Debt Relief Act for another year! Call your Representative and thank them if you completed a Short Sale in 2014.
The bad news is that the Senate and the President still need to pass the Bill. Keep calling them or writing them!