Reporting Discharged Debts to the Internal Revenue Service

The Rural Housing and Community Development Service (RHCDS), Rural Business and Cooperative Development Service (RBCDS), Rural Utilities Service (RUS), and Consolidated Farm Service Agency (CFSA), amends their debt settlement regulations. The intended effect is to remove debt settlement regulations concerning the Internal Revenue Service (IRS) requirement that certain agency discharges of indebtedness be reported to the IRS. This action is necessary to remove strictly internal procedural requirements from the debt settlement regulation.