Elvis Presley was, at one time, the biggest individual taxpayer in America paying over 91% of his annual income.

Seems like a waste of tax payer dollar.

The proceeds from the redemption sale are then applied toward property acquisition costs, and the remaining funds are applied against the taxpayer’s outstanding tax liability.

Here is an article with highlights of the changes coming:https://blog.rapidtax.com/how-will-my-taxes-change...There are also changes to the mortgage interest deduction and the HELOC interest deduction.The HELOC interest deduction completely disappears, except for funds that are used to buy, build, or substantially improve the tax payer's home that secures the loan. 

Otherwise, the taxpayer could claim that he sometimes was on the land also, which makes your possession only scrambling possession, not exclusive possession. 

The government should not overpay its employees and waste taxpayer money.5.

BTW - keep an eye on that boring thread I started about that Florida senator that is trying to introduce a bill for federalized reinsurance. 10 bucks says that if that happens, as soon as it does they're going to try to get reinsurance for Jupiter under it and pass on all the costs of BP's liability to the taxpayer.

Net losses from these activities are passive unless the taxpayer materially participates.

What pissed me off is when they had their so called people deny that they were in the wrong doing give me a break :roll: They knew about those sub prime mortgages and that they were toxic but they lied to investors and told them they were ok to invest in the meantime they created the synthetic CDO to bet against them knowing full well that they would win in the end because they knew that those mortgages were going to default.They should have fell along with Lehman Brothers but instead they got a bailout paid by us the tax payers and still profited.

If FNMA and FDMC cost taxpayers BILLIONS of dollars, there is a problem.