Consumer Debt Forgiveness Tax Relief Act of 2015

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.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 3 June 2015

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• Introduced in House (PDF)

  Introduced in House · EN · 3 June 2015

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• Introduced in House

  summary · EN · 3 June 2015

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