---
kind: "section"
citation: "47 C.F.R. § 1.1950"
title: "47"
number: "1.1950"
heading: "Reporting discharged debts to the Internal Revenue Service."
url: "https://uscodex.org/cfr/47/1.1950"
---

# §1.1950. Reporting discharged debts to the Internal Revenue Service.

- (a) In accordance with applicable provisions of the Internal Revenue Code and implementing regulations ([26 U.S.C. 6050P](/usc/26/6050P.md); [26 CFR 1.6050P-1](/cfr/26/1.6050P-1.md)), when the Commission discharges a debt for less than the full value of the indebtedness, it will report the outstanding balance discharged, not including interest, to the Internal Revenue Service, using IRS Form 1099-C or any other form prescribed by the Service, when:
  - (1) The principle amount of the debt not in dispute is $600 or more; and
  - (2) The obligation has not been discharged in a bankruptcy proceeding; and
  - (3) The obligation is no longer collectible either because the time limit in the applicable statute for enforcing collection expired during the tax year, or because during the year a formal compromise agreement was reached in which the debtor was legally discharged of all or a portion of the obligation.
- (b) The Treasury will prepare the Form 1099-C for those debts transferred to Treasury for collection and deemed uncollectible.

## Notes

### Authority

Authority: 31 U.S.C. 3701; 31 U.S.C. 3711 et seq.; 5 U.S.C. 5514; sec. 8(1) of E.O. 11609 (3 CFR, 1971-1975 Comp., p.586); redesignated in sec. 2-1 of E.O. 12107; (3 CFR, 1978 Comp., p. 264); 31 CFR parts 901-904; 5 CFR part 550.

### Source

Source: 69 FR 27848, May 17, 2004, unless otherwise noted.

### Authority

Authority: 47 U.S.C. chs. 2, 5, 9, 13; 28 U.S.C. 2461 note; 47 U.S.C. 1754, unless otherwise noted.