In a letter from Congressman Chris Van Hollen... Dear Ms. Bargeski: Thank you for contacting me to express your support for HR 2994, the Mortgage Forgiveness Tax Relief Act. I appreciate hearing from you and apologize for the delayed response. I agree with you and I support this legislation. As you know, this bill would extend the exclusion from gross income of mortgage debts that are forgiven by a lender. In December 2013, I signed a letter to the House Ways and Means and Senate Finance Committees in support of this exclusion and I am disappointed that the Congress has yet to act on this issue. This commonsense legislation would instill more confidence into the housing market and ensure that homeowners affected by the foreclosure crisis do not have to pay taxes on forgiven mortgage debt. This bill has been referred to the House Committee on Ways and Means. I will continue to work with my colleagues to extend this exclusion and protect our nations homeowners. Again, thank you for sharing your thoughts with me. Please do not hesitate to contact me whenever I may be of service. Sincerely, Chris Van Hollen Member of Congress P.S. Please visit my website at vanhollen.house.gov. While there, you can sign up for my e-mail newsletter, view press releases and statements, see what legislation I have sponsored or co-sponsored and receive information on the various constituent services provided by my office.
Posted on: Fri, 21 Nov 2014 21:58:43 +0000
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