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S 4801 118th Congress Senate Taxation

Tax Relief for Coerced Debt Act of 2024

Introduced: July 25, 2024 Introduced by: Smith, Tina Democratic · Minnesota See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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
Jul 25, 2024
Read twice and referred to the Committee on Finance.
Jul 25, 2024
Introduced in Senate
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 Plain-English summary Congressional Research Service

Tax Relief for Coerced Debt Act of 2024

This bill excludes from gross income, for income tax purposes, income resulting from the discharge of coerced indebtedness. Under the bill, indebtedness of an individual is treated as coerced indebtedness if it was incurred as the result of the unknowing and unauthorized use of the individual's personal indentifying information, or by reason of economic abuse, intimidation, force, fraud, or deception, and the individual debtor was relieved of personal liability for the debt by a court judgment.

What's happening now July 25, 2024

Read twice and referred to the Committee on Finance.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Klobuchar, Amy
Minnesota · Jul 25, 2024
Cite this page click to expand
APA
U.S. Congress. (2026). S. 4801: Tax Relief for Coerced Debt Act of 2024. 118th Congress. Open America. https://openamerica.io/bill/118-S-4801/
MLA
"S. 4801: Tax Relief for Coerced Debt Act of 2024." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-4801/.
Bluebook (legal)
S. 4801, 118th Cong. (2026), https://openamerica.io/bill/118-S-4801/.
Markdown link
[S. 4801: Tax Relief for Coerced Debt Act of 2024](https://openamerica.io/bill/118-S-4801/)
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