12 C.F.R. § 313.127 Disposition of amounts collected.
Title 12 - Banks and Banking
FMS will transmit amounts collected for past-due, legally enforceable debts, less fees charged under this section, to the FDIC's account. The FDIC will reimburse FMS and the IRS for the cost of administering the tax refund offset program. FMS will deduct the fees from amounts collected prior to disposition and transmit a portion of the fees deducted to reimburse the IRS for its share of the cost of administering the tax refund offset program. To the extent allowed by law, the FDIC may add the offset fees to the debt.
Title 12: Banks and Banking
PART 313—PROCEDURES FOR CORPORATE DEBT COLLECTION
Subpart E—Tax Refund Offset
§ 313.127 Disposition of amounts collected.
