---
kind: "section"
citation: "49 C.F.R. § 1018.80"
title: "49"
number: "1018.80"
heading: "Reporting discharged debts to the Internal Revenue Service."
url: "https://uscodex.org/cfr/49/1018.80"
---

# §1018.80. Reporting discharged debts to the Internal Revenue Service.


When the Board 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-G or any other form prescribed by the IRS, when:

- (a) The principal amount of the debt not in dispute is $600 or more;
- (b) The obligation has not been discharged in a bankruptcy proceeding; and
- (c) 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 tax year a formal compromise agreement was reached in which the debtor was legally discharged of all or a portion of the obligation.

## Notes

### Authority

Authority: 31 U.S.C. 3701, 31 U.S.C. 3711 et seq., 49 U.S.C. 1321, 31 CFR parts 900-904.

### Source

Source: 58 FR 7749, Feb. 9, 1993, unless otherwise noted.