On the recordOctober 1, 2007
The tax code already protects people who are insolvent or whose debt has been discharged in bankruptcy from having to pay tax when debt is cancelled.
Source
presidency.ucsb.eduThe tax code already protects people who are insolvent or whose debt has been discharged in bankruptcy from having to pay tax when debt is cancelled.
Statement of Administration Policy: H.R. 3648 - Mortgage Forgiveness Debt Relief Act of 2007
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