EVENT(S) LEADING INTO 2014 (AMERICA) January 1st 2014

http://www.irs.gov/Individuals/The-Mortgage-Forgiveness-Debt-Relief-Act-and-Debt-Cancellation-

Approaching confirmation, WHAT HAPPENS WHEN YOU COMBINE DEBT FORGIVENESS (debt relief act) WITH A HEALTH CARE BILL (OBAMA CARE) IN THE BEGINING OF 2014 WITH A SEPERATE FARM BILL DEBT / FOOD x HEALTH CARE = ???

2014 WILL BE ONE OF THE GREATS IN THE HISTORY BOOKS FOR THE USA AND THE WORLD GNS+RESEARCH

http://www.irs.gov/Individuals/The-Mortgage-Forgiveness-Debt-Relief-Act-and-Debt-Cancellation-Debt Cancellation
If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable.

The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.

This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion does not apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition.

More information, including detailed examples can be found in Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments. Also see IRS news release IR-2008-17.

The following are the most commonly asked questions and answers about The Mortgage Forgiveness Debt Relief Act and debt cancellation:

What is Cancellation of Debt?If you borrow money from a commercial lender and the lender later cancels or forgives the debt, you may have to include the cancelled amount in income for tax purposes, depending on the circumstances. When you borrowed the money you were not required to include the loan proceeds in income because you had an obligation to repay the lender. When that obligation is subsequently forgiven, the amount you received as loan proceeds is normally reportable as income because you no longer have an obligation to repay the lender. The lender is usually required to report the amount of the canceled debt to you and the IRS on a Form 1099-C, Cancellation of Debt.

Here’s a very simplified example. You borrow $10,000 and default on the loan after paying back $2,000. If the lender is unable to collect the remaining debt from you, there is a cancellation of debt of $8,000, which generally is taxable income to you.
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http://thehill.com/homenews/senate/303227-democrats-see-farm-bill-rural-voters-as-key-to-2014-election FARMING BILL 2014
reducing government.”
The $955 billion farm bill establishes subsidy levels for crops and pays for the federal food stamp program. Much of the funding will go to the Supplemental Nutrition Assistance Program.
It would eliminate some subsidies in the form of direct payments, but create other new subsidies and expand crop insurance. In a significant concession to Republicans, it cuts $23 billion in spending over 10 years, including $4 billion from food stamps.
“There’s probably no piece of legislation that’s more important to rural America than the Farm Bill. More than 16 million Americans have jobs because of agriculture and many of those jobs are found in rural communities,” said Agriculture Committee Chairwoman Debbie Stabenow (D-Mich.) “The Farm Bill is a game changer for rural communities and it’s one of the many reasons why passing a five-year bill is so critical.” 
Democrats passed a multi-year, bipartisan farm bill through the Senate last year, but it stalled because of opposition from conservative House Republicans, a point Democratic leaders repeated in the final weeks of the 112th Congress.
Democratic aides said last year’s battle over the farm bill highlighted Republican obstruction and helped them expand their majority.
Republicans say the 2014 election will be a referendum on Obama, the controversies that have plagued his second term and the implementation of the new healthcare law.


Read more: http://thehill.com/homenews/senate/303227-democrats-see-farm-bill-rural-voters-as-key-to-2014-election#ixzz2XrhOMNeS
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http://gnli.christianpost.com/video/majority-of-americans-continue-to-oppose-health-care-law-quotobamacarequot-poll-10180 VIDEO

http://www.christianpost.com/news/obamacare-starts-in-2014-but-majority-of-americans-oppose-affordable-care-act-video-96985/ TEXT
Obamacare requires most American citizens to obtain health insurance. It will expand the availability of coverage by expanding Medicaid eligibility and will require that large employers provide coverage to their employees.
Read more at http://www.christianpost.com/news/obamacare-starts-in-2014-but-majority-of-americans-oppose-affordable-care-act-video-96985/#9hkrhrESDO54gryr.99