A bill to prevent homeowners from being forced to pay taxes on forgiven mortgage loan debt.
Mortgage Forgiveness Tax Relief Act
Amends the Internal Revenue Code, as amended by the Tax Increase Prevention Act of 2014, to extend the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence that was discharged subject to an arrangement entered into and evidenced in writing before January 1, 2017.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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