Macon County’s Economic Development Commission (EDC) finished up the inaugural BizWeek 2012 celebration with a banquet held at Holly Springs Baptist Church. BizWeek was a week-long celebration of business, industry and entrepreneurship with the EDC and its partners holding several events in honor of businesses in the county. Each event was designed to show appreciation for the businesses that are part of the fabric of Macon County’s economic community.

“On behalf of the Macon County EDC, I want to thank the approximately 300 participants in the BizWeek 2012 festivities this past week,” said Tommy Jenkins.

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The Franklin Young Professionals, Inc. (FYP) had their annual meeting at the newly renovated Cat Creek Lodge in the Holly Springs area of Franklin. Cat Creek Lodge graciously donated their facility to FYP for their annual meeting. The purpose of the meeting was to reflect upon FYP’s accomplishments in 2010/2011, as well as the introduction of the new board members for 2012/2013.

The meeting highlighted FYP’s accomplishments in 2010/2011. The crowning achievement was the honor of receiving the Franklin Chamber of Commerce Organization of the Year. “We feel honored to receive such an award and feel that the numerous programs that we are involved with throughout the year played a huge role in this”, said Josh Owens.

Canceled debt is normally taxable to you, but there are exceptions. One of those exceptions is available to homeowners whose mortgage debt is partly or entirely forgiven during tax years 2007 through 2012.

The IRS would like you to know these 10 facts about Mortgage Debt Forgiveness:

1. Normally, debt forgiveness results in taxable income. However, under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to exclude up to $2 million of debt forgiven on your principal residence.

Make sure you have all the needed documents, including all your Forms W-2, before you file your 2011 tax return. You should receive an IRS Form W-2, Wage and Tax Statement, from each of your employers. Employers have until Jan. 31, 2012 to issue your 2011 Form W-2 earnings statement.

If you haven’t received your W-2, follow these four steps:

1. Contact your employer If you have not received your W-2, contact your employer to inquire if and when the W-2 was mailed. If it was mailed, it may have been returned to the employer because of an incorrect or incomplete address. After contacting the employer, allow a reasonable amount of time for them to resend or issue the W-2.