Code of Federal Regulations (Last Updated: November 8, 2024) |
Title 31 - Money and Finance: Treasury |
Subtitle A - Office of the Secretary of the Treasury |
Part 5 - Treasury Debt Collection |
Subpart D - Administrative Offset |
§ 5.32 - Definitions.
Latest version.
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(a)
Administrative offset, as defined in 31 U.S.C. 3701(a)(1), means “withholding money payable by the United States Government to, or held by the Government for, a person to satisfy a debt the person owes the Government.(b)
Person includes a natural person or persons, profit or non-profit corporation, partnership, association, trust, estate, consortium, or other entity which is capable of owing a debt to the United States Government except that agencies of the United States, or of any State or local government shall be excluded.