{"data":{"id":"us/47-cfr-1.1950","jurisdiction":"us","citation":"47 CFR 1.1950","heading":"Reporting discharged debts to the Internal Revenue Service.","body":"(a) In accordance with applicable provisions of the Internal Revenue Code and implementing regulations (26 U.S.C. 6050P; 26 CFR 1.6050P-1), 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:\n(1) The principle amount of the debt not in dispute is $600 or more; and\n(2) The obligation has not been discharged in a bankruptcy proceeding; and\n(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.\n(b) The Treasury will prepare the Form 1099-C for those debts transferred to Treasury for collection and deemed uncollectible.","path":["Title 47—Telecommunication","CHAPTER I—FEDERAL COMMUNICATIONS COMMISSION","SUBCHAPTER A—GENERAL","PART 1—PRACTICE AND PROCEDURE","Subpart O—Collection of Claims Owed the United States"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-47.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:26:28Z","sha256":"639c4572a10f8e8aeb55e4ddcf8df2513ffc00428938412cada0eb04e3fd9789","source_id":"us-cfr","stale":true,"prev":"us/47-cfr-1.1943-1.1949","next":"us/47-cfr-1.1951"},"notice":"GroundRules: Original legal text. Not legal advice."}