Source: https://www.law.cornell.edu/cfr/text/45/1150.10
Timestamp: 2016-05-29 23:29:44
Document Index: 463336330

Matched Legal Cases: ['art 1150', '§ 1150', '§ 1150', '§ 5514', '§ 3711', '§ 3716', '§ 3717', '§ 3718', '§ 3720']

45 CFR 1150.10 - What is the extent of the Chairperson's authority to compromise debts owed to the Endowment, or to suspend or terminate collection action on such debts? | US Law | LII / Legal Information Institute
CFR › Title 45 › Subtitle B › Chapter XI › Subchapter B › Part 1150 › Subpart A › Section 1150.10 45 CFR 1150.10 - What is the extent of the Chairperson's authority to compromise debts owed to the Endowment, or to suspend or terminate collection action on such debts?
§ 1150.10
What is the extent of the Chairperson's authority to compromise debts owed to the Endowment, or to suspend or terminate collection action on such debts?
The Chairperson may exercise his or her authority to compromise, or to suspend or terminate collection action on, those debts owed to the Endowment and not exceeding $100,000, excluding interest, in conformity with the Federal Claims Collection Act of 1966, as amended; the Federal Claims Collection Standards issued thereunder; and this part, except where standards are established by other statutes or authorized regulations issued pursuant to them.
The portion of a debt owed to the Endowment that is unrecovered as the result of a compromise shall be reported to the Internal Revenue Service (IRS) as income to the debtor.
§ 1150.10 What is the extent of the Chairperson's authority to compromise debts owed to the Endowment, or to suspend or terminate collection action on such debts?
(a) The Chairperson may exercise his or her authority to compromise, or to suspend or terminate collection action on, those debts owed to the Endowment and not exceeding $100,000, excluding interest, in conformity with the Federal Claims Collection Act of 1966, as amended; the Federal Claims Collection Standards issued thereunder; and this part, except where standards are established by other statutes or authorized regulations issued pursuant to them. (b) The portion of a debt owed to the Endowment that is unrecovered as the result of a compromise shall be reported to the Internal Revenue Service (IRS) as income to the debtor. This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.United States CodeU.S. Code: Title 5 - GOVERNMENT ORGANIZATION AND EMPLOYEES§ 5514 - Installment deduction for indebtedness to the United States
U.S. Code: Title 31 - MONEY AND FINANCE§ 3711 - Collection and compromise§ 3716 - Administrative offset§ 3717 - Interest and penalty on claims§ 3718 - Contracts for collection services§ 3720A - Reduction of tax refund by amount of debt