United States Congress
To amend the Internal Revenue Code of 1986 to repeal the inclusion in gross income of Social Security benefits.
August 13, 2024
Summary
This bill proposes to permanently repeal the taxation of Social Security benefits by amending IRC Section 86. It has no direct effect on mortgage compliance, underwriting, or servicing operations. Compliance professionals should monitor whether the bill advances, as it could modestly increase retiree disposable income and potentially affect income-based loan qualification.
AI-generated summary · Aug 29, 2026. Verify with your compliance counsel before acting.
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Source: https://www.congress.gov/bill/118th-congress/hr-bill/9359
Common questions
- What does "To amend the Internal Revenue Code of 1986 to repeal the inclusion in gross income of Social Security benefits." cover?
- This bill proposes to permanently repeal the taxation of Social Security benefits by amending IRC Section 86. It has no direct effect on mortgage…
- Which agency issued this update?
- This update was issued by United States Congress.
- When was it published?
- It was published on August 13, 2024.