Code of Federal Regulations · Section
§ 213.36 — Reporting To Department Of The Treasury's Internal Revenue Service
22 C.F.R. § 213.36
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Upon discharge of indebtedness, USAID must report the discharged debt as income to the debtor to the IRS in accordance with the requirements of 26 U.S.C. 6050P and 26 CFR 1.6050P-1. USAID may request Fiscal Service to file such a discharge debt report to the IRS on the Agency's behalf.
Authorizing Statute
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Returns relating to the cancellation of indebtedness by certain entities26 U.S.C. § 6050P
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Authority and functions of agency Chief Financial Officers31 U.S.C. § 902
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Exercise of functions22 U.S.C. § 2381
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Installment deduction for indebtedness to the United States5 U.S.C. § 5514