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Current as of January 01, 2024 | Updated by FindLaw Staff
(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.
Cite this article: FindLaw.com - 26 U.S.C. § 7505 - U.S. Code - Unannotated Title 26. Internal Revenue Code § 7505. Sale of personal property acquired by the United States - last updated January 01, 2024 | https://codes.findlaw.com/us/title-26-internal-revenue-code/26-usc-sect-7505/
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