§7505 — Sale of personal property acquired by the United States
Statute Text — 26 U.S.C. §7505
(a)Sale
Any personal property acquired by the United States in payment of or as security for debts arising under the internal revenue laws may be sold by the Secretary in accordance with such regulations as may be prescribed by the Secretary.
(b)Accounting
In case of the resale of such property, the proceeds of the sale shall be paid into the Treasury as internal revenue collections, and there shall be rendered a distinct account of all charges incurred in such sales.
Treasury Regulations
- Treas. Reg. §Treas. Reg. §301.7505-1 Sale of personal property acquired by the United States
- Treas. Reg. §Treas. Reg. §301.7505-1(a) Sale—(1) In general.
- Treas. Reg. §Treas. Reg. §301.7505-1(b) Accounting.
- Treas. Reg. §Treas. Reg. §301.7505-1(i) Invitation to bidders.
- Treas. Reg. §Treas. Reg. §301.7505-1(v) Consideration of bids.
0 Citing Cases
No citing cases found in the corpus.