Open Thread

For general discussion and debate. Possible talking point: Tax relief for distressed homeowners?

The Internal Revenue Service said Tuesday it will try to make it easier for homeowners in financial straits to refinance or sell their homes. The plan announced by IRS Commissioner Doug Shulman would speed up a process where financially distressed homeowners may request that a federal tax lien be made secondary to liens by the lending institution that is refinancing or restructuring a loan. Taxpayers will also be able to ask the IRS to discharge, or remove, its claim to a property in certain circumstances where the property is being sold for less than the amount of the mortgage lien.

Thoughts?