47 CFR 1.1950 - Reporting discharged debts to the Internal Revenue Service.

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§ 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; 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:
(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.

Title 47 published on 2014-10-01.

The following are only the Rules published in the Federal Register after the published date of Title 47.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2015-05-18; vol. 80 # 95 - Monday, May 18, 2015
    1. 80 FR 28203 - Acceleration of Broadband Deployment by Improving Wireless Facilities Siting Policies
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      Final rule; announcement of effective date.
      47 CFR 1.40001(c)(3)(i), 1.140001(c)(3)(iii), and 1.140001(c)(4), published at 80 FR 1238, January 8, 2015, are effective on May 18, 2015.
      47 CFR Part 1

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United States Code

Title 47 published on 2014-10-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 47 CFR Part 1 after this date.

  • 2015-05-26; vol. 80 # 100 - Tuesday, May 26, 2015
    1. 80 FR 30021 - Incentive Auction Task Force Releases Initial Clearing Target Optimization Simulations
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      Proposed rule.
      Submit comments on or before June 3, 2015.
      47 CFR Parts 1, 27, and 73