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United States · Bill · HR

H.R. 3506 (110th)

Foreclosure Tax Relief Act of 2007

referredUnited States· United States Congress· EN

Introduced

7 September 2007

Last action

Status

Referred to the House Committee on Ways and Means.

Sponsors

Subjects

Discovery layer

Source updated

14 August 2025

Summary

Foreclosure Tax Relief Act of 2007 - Amends the Internal Revenue Code to exclude from gross income up to $50,000 of the amount attributable to a discharge of mortgage indebtedness or to a refinancing of a principal residence. Limits such tax exclusion to taxpayers with modified adjusted gross incomes of $100,000 or less ($200,000 in the case of a joint tax return).

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Documents

3 official files

Introduced in House (text)

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Sources

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