HR 2640
114th Congress
House
Taxation
Consumer credit
Income tax exclusion
Consumer Debt Forgiveness Tax Relief Act of 2015
Introduced: June 3, 2015
Introduced by:
Peters, Scott H.
Democratic
· California
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 3, 2015
Referred to the House Committee on Ways and Means.
Jun 3, 2015
Introduced in House
Plain-English summary
Consumer Debt Forgiveness Tax Relief Act of 2015
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
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1