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Unformatted text preview: 2002 Regulations clarified what could qualify as "unforeseen circumstances." The following must involve the taxpayer, spouse, co-owner, or a member of the taxpayer's household to qualify: death; divorce or legal separation; becoming eligible for unemployment compensation; a change in employment that leaves the taxpayer unable to pay the mortgage or reasonable basic living expenses; and multiple births resulting from the same pregnancy. Damage to the residence resulting from a natural or man-made disaster or an act or war or terrorism, and condemnation, seizure or other involuntary conversion of the property, and other circumstances at the discretion of the IRS Commissioner could also qualify as "unforeseen."...
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- Summer '06