Nowadays, many young adults are struggling to buy their first homes or upsize to larger homes that fit their growing families. Parents and other financially secure family members might be tempted to provide financial assistance to help their loved ones purchase their dream homes. There are several options to consider, but they all have tax implications.

With the many types of loans available to borrowers, nonrecourse loans remain popular because they can shield borrowers from personal liability. But lenders will try to add “carveouts” to minimize that protection. If borrowers violate carveouts in the loan document, they may be left with full liability. This article highlights why both lenders and borrowers will negotiate nonrecourse loan carveouts, with borrowers looking to minimize personal liability.

Tax debtors have more to worry about than notices from the IRS, interest and penalties. If they have “seriously delinquent tax debts,” they may have passports revoked or not issued. This article explains how a law passed several years ago granted the federal government the authority to punish delinquent taxpayers using passports, as well as how the process works.

As companies undertake hiring efforts, employees with hiring authority need to step carefully. Costly lawsuits, bad PR and even government penalties await businesses that run afoul of immigration law. This article reviews some background info and best practices regarding the prevention of discrimination based on national origin.