H.R.3506 - Foreclosure Tax Relief Act of 2007

To amend the Internal Revenue Code of 1986 to exclude from gross income certain amounts of cancellation of indebtedness income on account of a foreclosure on the mortgage secured by the principal residence of the taxpayer. view all titles (2)

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  • Short: Foreclosure Tax Relief Act of 2007 as introduced.
  • Official: To amend the Internal Revenue Code of 1986 to exclude from gross income certain amounts of cancellation of indebtedness income on account of a foreclosure on the mortgage secured by the principal residence of the taxpayer. as introduced.

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10/02/07
Income isn't the issue

We wonder, however, about the income ceiling his HR 3506 would impose. Homeowners with income higher than $100000 would not be eligible. ...

Source: Canton Repository (subscription), OH
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