§1011.7. When will the Presidio Trust compromise a debt?
36 C.F.R. § 1011.7
Authority. The Presidio Trust may compromise a debt in accordance with the FCCS and such procedures as the Presidio Trust may adopt. (See § 1011.16 of this subpart).
Report to IRS. The uncollected portion of a debt owed to the Presidio Trust that is not recovered as the result of a compromise will be reported to the IRS as income to the debtor in accordance with IRS and Presidio Trust procedures.
Notes, amendments, and revision history
Authority
Authority: 16 U.S.C. 460bb appendix, as amended.
Source
Source: 70 FR 73588, Dec. 13, 2005, unless otherwise noted.