In selling businesses and property, buyers and sellers sometimes discuss “seller financing”. In the context of real estate, these arrangements are sometimes casually called “land contracts”. Generally ...
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This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated. MEMPHIS, Tenn. — Willie and Nora Adams had ...
The Internal Revenue Service and the Treasury Department want to curb the use of some types of monetized installment sale transactions by listing them as potentially abusive tax dodges. They issued ...
Land contracts, also called trust deeds, notes, deeds of trust and privately held mortgages, are real estate purchase contracts financed for the buyer by the seller. Depending on the terms of the ...
In September 2014, dealers received a letter from the Department of Banking (“Banking”) regarding the repeal and replacement of the Motor Vehicle Sales Finance Act (“MVSFA”) with the Motor Vehicle ...
The Tax Court remanded a case to the IRS Appeals Office after deciding an IRS settlement officer abused her discretion by withholding approval of an installment agreement pending liquidation of nearly ...
Taxpayers needing to set up an installment agreement to pay off their tax liability could be subject to higher - or lower - fees starting January 1, 2017, if an IRS proposal is adopted. If you’re ...
The SCA clarified that the NCA did not prohibit OTR fees where it reasonably formed part of the vehicle’s purchase price (constituting the principal debt). The court however laid down strict rules for ...