Tax refund offset definition

Tax refund offset means withholding or reducing, in whole or in part, a federal tax refund payment by an amount necessary to satisfy a past due legally enforceable state income tax obligation owed by the payee (taxpayer) of the tax refund payment. This chapter only involves the offset of tax refund payments under 26 U.S.C. 6402(e); it does not cover the offset of federal payments other than tax refund payments for the collection of past due legally enforceable state income tax obligations.

Tax refund offset means the reduc- tion of a tax refund by the amount of a past-due legally enforceable debt owed to the Endowment or any other Fed- eral agency.§ 1150.2 What is the Endowment’s au- thority to issue these regulations?The Endowment is issuing the regu- lations in this part under 31 U.S.C. 3711, 3716–3718, and 3720A. These sections re- flect the Federal Claims Collection Act of 1966, as amended by the Debt Collec- tion Act of 1982 and the Debt Collection Improvement Act of 1996. The Endow- ment is also issuing the regulations in this part in conformity with the Fed- eral Claims Collection Standards, which prescribe standards for the han- dling of the Federal government’s claims for money or property. The En- dowment is further issuing the regula- tions in this part in conformity with 5U.S.C. 5514 and the salary offset regula-tions published by the OPM at 5 CFR part 550, subpart K.§ 1150.3 What other regulations also apply to the Endowment’s debt col- lection efforts?All provisions of the Federal Claims Collection Standards also apply to the regulations in this part. This part sup- 45 CFR Ch. XI (10–1–20 Edition)plements the Federal Claims Collection Standards by prescribing procedures and directives necessary and appro- priate for operations of the Endow- ment. § 1150.4 What types of claims are ex- cluded from these regulations?(a) The regulations in this part do not apply to any claim as to which there is an indication of fraud or mis- representation, as described in the Fed- eral Claims Collection Standards, un- less returned to the Endowment by the DOJ for handling.(b) The regulations in this subpart, subpart B, and subpart D do not apply to debts arising under the Internal Revenue Code of 1986, as amended (26U.S.C. 1 et seq.); the Social Security Act (42 U.S.C. 301 et seq.); and the tariff laws of the United States.(c) Remedies and procedures de- scribed in this part may be authorized with respect to claims that are exempt from the Debt Collection Act of 1982 and the Debt Collection Improvement Act of 1996, to the extent that they are authorized under some other statute or the common law.§ 1150.5 What notice will I be provided if I owe a debt to the Endowment?(a) When the Chairperson determines that you owe a debt to the Endowment, he or she will send you a written notice (Notice). The Notice will be hand-deliv- ered or sent to you by certified mail, return receipt requested at the most current address known to the Endow- ment. The Notice will inform you o...

Tax refund offset means the offset of federal tax refund payments to collect federal debts pursuant to 26 U.S.C. § 6402 and 31 U.S.C. § 3720A and implementing regulations at 31 CFR §§ 285.2, 285.3, 285.5, and 285.8.

Examples of Tax refund offset in a sentence

• Tax refund offset may be used sepa- rately or in conjunction with the col- lection procedures provided in 26 U.S.C. 6305, as well as other collection proce- dures.(2) FMS will compare tax refund pay- ment records, as certified by the IRS, with records of debts submitted to FMS.

• PBGC will give the debtor notice and an opportunity for review as soon as practicable and promptly refund any money ultimately found not to have been owed to the Government.§ 4903.12 How will PBGC use tax refund offset to collect a debt owed to PBGC?(a) Tax refund offset.

• During the two-year period ending on the date hereof, neither the Company nor any of its Subsidiaries has made or changed any material Tax election, changed any annual Tax accounting period, adopted or changed any material method of Tax accounting, filed any amended Company Return, entered into any closing agreement, settled any Tax claim or assessment, or surrendered any right to claim a Tax refund, offset or other reduction in Tax liability.

• When the debtor did not receive a hearing under those regulations and requests such a hearing, one will be conducted in accordance with 5 CFR part 550, subpart K and 31CFR part 5.(3) Tax refund offset.

• During the five-year period ending on the date hereof, neither the Company nor any Company Subsidiary has made or changed any Tax election, changed any annual Tax accounting period, adopted or changed any method of Tax accounting, filed any amended Tax Return, entered into any closing agreement, settled any Tax claim or assessment, or surrendered any right to claim a Tax refund, offset or other reduction in Tax liability.

More Definitions of Tax refund offset

Tax refund offset means the reduction of a tax refund by the amount of a past-due legally enforceable debt.§ 218.701 What is MMS’s authority to issue these regulations?(a) The MMS is issuing the regulations in this subpart under the authority of the FCCS; the Debt Collection Act of 1982, and the Debt Collection Improvement Act of 1996, 31 U.S.C. 3711, 3716–3718, and 3720A.(b) The MMS hereby adopts theprovisions of the FCCS (31 CFR parts 900–904). The MMS regulations supplement the FCCS as necessary.§ 218.702 What happens to delinquent debts a debtor owes MMS?(a) The MMS will collect debts from debtors in accordance with the regulations in this subpart.(b) The MMS will transfer to the U.S.Department of the Treasury any past due, legally enforceable nontax debt that is delinquent within 180 days from the date the debt becomes delinquent so that Treasury may take appropriate action to collect the debt or terminate the collection action in accordance with 5 U.S.C. 5514, 26 U.S.C. 6402, 31 U.S.C.3711 and 3716, the FCCS, 5 CFR550.1108, and 31 CFR part 285.§ 218.703 What notice will MMS give to a debtor of our intent to collect a debt?(a) When the Director determines that a debt is owed to MMS, the Director will send a written notice (Notice), also known as a Demand Letter. The Notice will be sent by facsimile or mail to the most current address known to us. The Notice will inform the debtor of the following:

Tax refund offset means withholding or reducing, in whole or in part, a federal tax refund payment by an amount necessary to satisfy a past-due, legally enforceable covered unemployment compensation debt owed by the payee (taxpayer) of the tax refund payment.

Tax refund offset means with- holding or reducing a tax refund pay- ment by an amount necessary to sat- isfy a debt owed by the payee(s) of a tax refund payment.

Tax refund offset means the reduction of a tax refund by the amount of a past-due legally enforceable debt owed to the Corporation or any other Federal agency.

Tax refund offset means the reduc- tion of a tax refund by the amount of a past-due legally enforceable debt owed to the Corporation or any other Fed- eral agency.

Tax refund offset has the meaning specified in Section 8.2(e).

Tax refund offset means the reduction of a tax refund by the amount of a past-due legally enforceable debt.