22 CFR 1306.22 - Discharge.

Regulations last checked for updates: May 01, 2025

Title 22 - Foreign Relations last revised: Jan 17, 2025

View all text of Subpart A [§ 1306.1 - § 1306.24]

§ 1306.22 - Discharge.

Once a debt has been closed out for accounting purposes and collection has been terminated, the debt is discharged. MCC must report discharged debt as income to the debtor to the Internal Revenue Service per 26 U.S.C. 6050P and 26 CFR 1.6050P-1.

authority: 31 U.S.C. 3701-3719; 5 U.S.C. 5514; 31 CFR part 285; 31 CFR parts 900-904; 5 CFR part 550 subpart K

source: 81 FR 59441, Aug. 30, 2016, unless otherwise noted.

cite as: 22 CFR 1306.22