[Code of Federal Regulations]

[Title 31, Volume 3]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR902.7]



[Page 970]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

   CHAPTER IX--FEDERAL CLAIMS COLLECTION STANDARDS (DEPARTMENT OF THE 

                    TREASURY--DEPARTMENT OF JUSTICE)

 

PART 902_STANDARDS FOR THE COMPROMISE OF CLAIMS--Table of Contents

 

Sec. 902.7  Mutual releases of the debtor and the Government.



    In all appropriate instances, a compromise that is accepted by an 

agency should be implemented by means of a mutual release, in which the 

debtor is released from further non-tax liability on the compromised 

debt in consideration of payment in full of the compromise amount and 

the Government and its officials, past and present, are released and 

discharged from any and all claims and causes of action arising from the 

same transaction that the debtor may have. In the event a mutual release 

is not executed when a debt is compromised, unless prohibited by law, 

the debtor is still deemed to have waived any and all claims and causes 

of action against the Government and its officials related to the 

transaction giving rise to the compromised debt.