C.F.R. » Title 36 » CHAPTER X—PRESIDIO TRUST › PART 1011—DEBT COLLECTION › Subpart B—Procedures To Collect Presidio Trust Debts

36 C.F.R. § 1011.7

When will the Presidio Trust compromise a debt?

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(a) 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).

(b) 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.