§34.22. Discharge.
22 C.F.R. § 34.22
Once a debt has been closed out for accounting purposes and collection has been terminated, the debt is discharged. STATE must report discharged debt as income to the debtor to the Internal Revenue Service per 26 U.S.C. 6050P and 26 CFR 1.6050P-1.
Notes, amendments, and revision history
Authority
Authority: 31 U.S.C. 3701-3719; 5 U.S.C. 5514; 31 CFR part 285; 31 CFR parts 900-904; 5 CFR part 550, subpart K.
Source
Source: 71 FR 16482, Apr. 3, 2006, unless otherwise noted.