N-2022-01, lenders or servicers of certain student loans

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Dec. 21, 2021

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Issue Number: N-2022-01

Inside This Issue

Notice 2022-01 announces that lenders or servicers of certain student loans should not file Forms 1099-C, Cancellation of Debt, or submit payee statements, for student loan debt described in section 9675 of the American Rescue Plan Act of 2021 (American Rescue Plan Act). That debt discharge is excluded from gross income under section 108(f)(5) of the Code, as amended by the American Rescue Plan Act of 2021 (ARP), Pub. L. 117-2, 135 Stat. 4 (March 11, 2021), for taxable years 2021 to 2025.

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