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Does SONYMAs “Federal Recapture Tax Reimbursement” program mean I do not have to pay the Federal recapture tax?

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Does SONYMAs “Federal Recapture Tax Reimbursement” program mean I do not have to pay the Federal recapture tax?

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No. You are still responsible for accurately paying any and all taxes to the IRS. SONYMA will reimburse you for the actual amount of the Federal recapture tax you owe and paid that is not covered by mortgage insurance.

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