Mortgage Cancellation Relief Act of 2007
To amend the Internal Revenue Code of 1986 to exclude from gross income of individual taxpayers discharges of indebtedness attributable to certain forgiven residential mortgage obligations.
4/17/2007--Introduced.
Mortgage Cancellation Relief Act of 2007 - Amends the Internal Revenue Code to exclude from gross income amounts attributable to the discharge of certain residential mortgage obligations.
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| Introduced | ![]() | Voted on by House | ![]() | Voted on by Senate | ![]() | Considered By President | ![]() | Bill Becomes Law |
| April 17, 2007 |
In the News
July 17, 2007 Tax Relief for "Phantom Income"
Prominent on their agenda was HR 1876, a bill that would provide tax relief for homeowners who have received "phantom income" as a result of forgiveness of ...
June 18, 2007 Get help when dealing with mortgage debt
Right now, a bill in the US House of Representatives entitled "The Mortgage Cancellation Tax Relief Act of 2007" (HR 1876) would amend the tax code to ...
April 18, 2007 NAR Commends Congress For Moving to Eliminate 'Phantom Tax' on ...
... and is encouraged by the actions taken today by the House of Representatives with the introduction of HR 1876, the Mortgage Cancellation Tax Relief Act. ...
Blog Coverage
May 12, 2008 Open Question: Help me get my credit together?
Pass HR 1876 to amend the Internal Revenue Code of 1986 to exclude from the gross income of individual taxpayers discharges of indebtedness attributable to certain forgiven residential mortgage obligations. 2. Spending Reform ...
Source: personal-financial-planning
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May 10, 2008 Open Question: How to plan our financial obligations ?
Pass HR 1876 to amend the Internal Revenue Code of 1986 to exclude from the gross income of individual taxpayers discharges of indebtedness attributable to certain forgiven residential mortgage obligations. 2. Spending Reform ...
Source: personal-financial-planning
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May 03, 2008 Open Question: Is my cat pregnant?
Pass HR 1876 to amend the Internal Revenue Code of 1986 to exclude from the gross income of individual taxpayers discharges of indebtedness attributable to certain forgiven residential mortgage obligations. 2. Spending Reform ...
Source: personal-financial-planning
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