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HR 5637 113th Congress House Taxation Consumer credit Income tax exclusion

Consumer Debt Forgiveness Tax Relief Act of 2014

Introduced: September 18, 2014 Introduced by: Peters, Scott H. Democratic · California See on congress.gov
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This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 18, 2014
Referred to the House Committee on Ways and Means.
Sep 18, 2014
Introduced in House
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 Plain-English summary Congressional Research Service

Consumer Debt Forgiveness Tax Relief Act of 2014 - Amends the Internal Revenue Code to exclude from gross income, for income tax purposes, income that is imputed to the discharge of qualified consumer indebtedness. Defines "qualified consumer indebtedness" as any indebtedness of a natural person arising out of a transaction in which the money, property, or services that are the subject of the transaction are primarily for personal, family, or household purposes. Provides that the aggregate amount of discharged indebtedness excludible from gross income shall not exceed the excess of $2,500 over the aggregate amounts treated as qualified consumer indebtedness for all prior taxable years.

What's happening now September 18, 2014

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Vargas, Juan
California · Sep 18, 2014
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5637: Consumer Debt Forgiveness Tax Relief Act of 2014. 113th Congress. Open America. https://openamerica.io/bill/113-HR-5637/
MLA
"H.R. 5637: Consumer Debt Forgiveness Tax Relief Act of 2014." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-HR-5637/.
Bluebook (legal)
H.R. 5637, 113th Cong. (2026), https://openamerica.io/bill/113-HR-5637/.
Markdown link
[H.R. 5637: Consumer Debt Forgiveness Tax Relief Act of 2014](https://openamerica.io/bill/113-HR-5637/)
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