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Code · BILL · 114th Congress · H.R. 4128 (Introduced in House) — To amend the Internal Revenue Code of 1986 to provide taxpayer protection and assistance, and for other purposes. · Sec. 305

Sec. 305. Removal of nonpayment period from list of triggering events for returns relating to cancellation of indebtedness

74 words·~1 min read·/bill/114/hr/4128/ih/section-305·

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Subsection
(c)of section 6050P is amended by adding at the end the following new paragraph: Whether an entity has discharged the indebtedness of any person shall not be determined based solely on the passage of a specified period of time during which the entity has not received payment on such indebtedness. . The amendments made by this section shall apply to discharges of indebtedness after the date of the enactment of this Act.
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