Code of Federal Regulations · Section
§ 3.90 — Reporting Discharged Debts To The Internal Revenue Service
7 C.F.R. § 3.90
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When USDA discharges a debt, whether for the full value or less, it will report the discharge to the Internal Revenue Service (IRS) in accordance with current IRS instructions.
Authorizing Statute
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Gross income defined26 U.S.C. § 61
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Reduction of tax refund by amount of debt31 U.S.C. § 3720A
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Definitions and application31 U.S.C. § 3701
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Departmental regulations5 U.S.C. § 301
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General powers7 U.S.C. § 1506
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General powers of Corporation15 U.S.C. § 714b