§ 1011.7. When will the Presidio Trust compromise a debt?
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/us/cfr/t36/s§ 1011.7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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.