US (United States) Code. Title 26. Subtitle F: Procedure and Administration. Chapter 70: Jeopardy, receiverships

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-CITE-

26 USC CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC. 01/06/03

-EXPCITE-

TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

-HEAD-

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

-MISC1-

Subchapter Sec.(!1)

A. Jeopardy 6851

B. Receiverships, etc 6871

AMENDMENTS

1980 - Pub. L. 96-589, Sec. 6(g)(3)(C), (D), Dec. 24, 1980, 94

Stat. 3410, substituted "JEOPARDY, RECEIVERSHIPS ETC." for

"JEOPARDY, BANKRUPTCY AND RECEIVERSHIPS" in chapter heading, and

"Receiverships, etc." for "Bankruptcy and receiverships" in item

for subchapter B.

-SECREF-

CHAPTER REFERRED TO IN OTHER SECTIONS

This chapter is referred to in sections 6422, 6601, 7508, 7801 of

this title.

-FOOTNOTE-

(!1) Section numbers editorially supplied.

-End-

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26 USC Subchapter A - Jeopardy 01/06/03

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TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

Subchapter A - Jeopardy

-HEAD-

SUBCHAPTER A - JEOPARDY

-MISC1-

Part

I. Termination of taxable year.

II. Jeopardy assessments.

III. Special rules with respect to certain cash.

AMENDMENTS

1982 - Pub. L. 97-248, title III, Sec. 330(b), Sept. 3, 1982, 96

Stat. 620, added item for part III.

-SECREF-

SUBCHAPTER REFERRED TO IN OTHER SECTIONS

This subchapter is referred to in sections 6155, 6216, 6331 of

this title.

-End-

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26 USC PART I - TERMINATION OF TAXABLE YEAR 01/06/03

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TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

Subchapter A - Jeopardy

PART I - TERMINATION OF TAXABLE YEAR

-HEAD-

PART I - TERMINATION OF TAXABLE YEAR

-MISC1-

Sec.

6851. Termination assessments of income tax.

6852. Termination assessments in case of flagrant political

expenditures of section 501(c)(3) organizations.

AMENDMENTS

1987 - Pub. L. 100-203, title X, Sec. 10713(b)(2)(H), Dec. 22,

1987, 101 Stat. 1330-470, added item 6852.

1976 - Pub. L. 94-455, title XII, Sec. 1204(c)(12), Oct. 4, 1976,

90 Stat. 1699, substituted "assessments of income tax" for "of

taxable year" in item 6851.

-End-

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26 USC Sec. 6851 01/06/03

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TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

Subchapter A - Jeopardy

PART I - TERMINATION OF TAXABLE YEAR

-HEAD-

Sec. 6851. Termination assessments of income tax

-STATUTE-

(a) Authority for making

(1) In general

If the Secretary finds that a taxpayer designs quickly to

depart from the United States or to remove his property

therefrom, or to conceal himself or his property therein, or to

do any other act (including in the case of a corporation

distributing all or a part of its assets in liquidation or

otherwise) tending to prejudice or to render wholly or partially

ineffectual proceedings to collect the income tax for the current

or the immediately preceding taxable year unless such proceeding

be brought without delay, the Secretary shall immediately make a

determination of tax for the current taxable year or for the

preceding taxable year, or both, as the case may be, and

notwithstanding any other provision of law, such tax shall become

immediately due and payable. The Secretary shall immediately

assess the amount of the tax so determined (together with all

interest, additional amounts, and additions to the tax provided

by law) for the current taxable year or such preceding taxable

year, or both, as the case may be, and shall cause notice of such

determination and assessment to be given the taxpayer, together

with a demand for immediate payment of such tax.

(2) Computation of tax

In the case of a current taxable year, the Secretary shall

determine the tax for the period beginning on the first day of

such current taxable year and ending on the date of the

determination under paragraph (1) as though such period were a

taxable year of the taxpayer, and shall take into account any

prior determination made under this subsection with respect to

such current taxable year.

(3) Treatment of amounts collected

Any amounts collected as a result of any assessments under this

subsection shall, to the extent thereof, be treated as a payment

of tax for such taxable year.

(4) This section inapplicable where section 6861 applies

This section shall not authorize any assessment of tax for the

preceding taxable year which is made after the due date of the

taxpayer's return for such taxable year (determined with regard

to any extensions).

(b) Notice of deficiency

If an assessment of tax is made under the authority of subsection

(a), the Secretary shall mail a notice under section 6212(a) for

the taxpayer's full taxable year (determined without regard to any

action taken under subsection (a)) with respect to which such

assessment was made within 60 days after the later of (i) the due

date of the taxpayer's return for such taxable year (determined

with regard to any extensions), or (ii) the date such taxpayer

files such return. Such deficiency may be in an amount greater or

less than the amount assessed under subsection (a).

(c) Citizens

In the case of a citizen of the United States or of a possession

of the United States about to depart from the United States, the

Secretary may, at his discretion, waive any or all of the

requirements placed on the taxpayer by this section.

(d) Departure of alien

Subject to such exceptions as may, by regulations, be prescribed

by the Secretary -

(1) No alien shall depart from the United States unless he

first procures from the Secretary a certificate that he has

complied with all the obligations imposed upon him by the income

tax laws.

(2) Payment of taxes shall not be enforced by any proceedings

under the provisions of this section prior to the expiration of

the time otherwise allowed for paying such taxes if, in the case

of an alien about to depart from the United States, the Secretary

determines that the collection of the tax will not be jeopardized

by the departure of the alien.

(e) Sections 6861(f) and (g) to apply

The provisions of section 6861(f) (relating to collection of

unpaid amounts) and 6861(g) (relating to abatement if jeopardy does

not exist) shall apply with respect to any assessment made under

subsection (a).

(f) Cross references

(1) For provisions permitting immediate levy in case of

jeopardy, see section 6331(a).

(2) For provisions relating to the review of jeopardy, see

section 7429.

-SOURCE-

(Aug. 16, 1954, ch. 736, 68A Stat. 833; Pub. L. 85-866, title I,

Sec. 87, Sept. 2, 1958, 72 Stat. 1665; Pub. L. 94-455, title XII,

Sec. 1204(b), title XIX, Sec. 1906(b)(13)(A), Oct. 4, 1976, 90

Stat. 1696, 1834.)

-MISC1-

AMENDMENTS

1976 - Pub. L. 94-455, Sec. 1204(b)(1), substituted "assessments

of income tax" for "of taxable year" in section catchline.

Subsec. (a). Pub. L. 94-455, Sec. 1204(b)(1), revised pars. (1)

and (2) to provide that a termination assessment does not end the

taxable year for any purpose other than the computation of the

amount of tax to be assessed and collected and to set out the

method for determining the tax for the current taxable year, and

added pars. (3) and (4).

Subsec. (b). Pub. L. 94-455, Sec. 1204(b)(1), substituted

provisions for the mailing of a notice of deficiency for provisions

for the reopening of taxable period.

Subsecs. (c), (d). Pub. L. 94-455, Sec. 1906(b)(13)(A), struck

out "or his delegate" after "Secretary" wherever appearing.

Subsec. (e). Pub. L. 94-455, Sec. 1204(b)(2), substituted

provisions making section 6861(f) and (g) applicable with respect

to assessments under subsec. (a).

Subsec. (f). Pub. L. 94-455, Sec. 1204(b)(2), added subsec. (f).

1958 - Subsec. (d). Pub. L. 85-866 designated existing provisions

as par. (1), inserted opening provisions, and added par. (2).

EFFECTIVE DATE OF 1976 AMENDMENT

Section 1204(d) of Pub. L. 94-455, as amended by Pub. L. 94-528,

Sec. 2(a), Oct. 17, 1976, 90 Stat. 2483; Pub. L. 99-514, Sec. 2,

Oct. 22, 1986, 100 Stat. 2095, provided that: "The amendments made

by this section [enacting section 7429 of this title and amending

this section and sections 443, 6091, 6211, 6213, 6863, 7103, and

7421 of this title] apply with respect to action taken under

section 6851, 6861, or 6862 of the Internal Revenue Code of 1986

[formerly I.R.C. 1954] where the notice and demand takes place

after February 28, 1977."

EFFECTIVE DATE OF 1958 AMENDMENT

Amendment by Pub. L. 85-866 effective Aug. 17, 1954, see section

1(c)(2) of Pub. L. 85-866, set out as a note under section 165 of

this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 6015, 6211, 6231, 6234,

6852, 6863, 6867, 7429, 7508, 7611 of this title; title 5 section

5568; title 37 section 558.

-End-

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26 USC Sec. 6852 01/06/03

-EXPCITE-

TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

Subchapter A - Jeopardy

PART I - TERMINATION OF TAXABLE YEAR

-HEAD-

Sec. 6852. Termination assessments in case of flagrant political

expenditures of section 501(c)(3) organizations

-STATUTE-

(a) Authority to make

(1) In general

If the Secretary finds that -

(A) a section 501(c)(3) organization has made political

expenditures, and

(B) such expenditures constitute a flagrant violation of the

prohibition against making political expenditures,

the Secretary shall immediately make a determination of any

income tax payable by such organization for the current or

immediately preceding taxable year, or both, and shall

immediately make a determination of any tax payable under section

4955 by such organization or any manager thereof with respect to

political expenditures during the current or preceding taxable

year, or both. Notwithstanding any other provision of law, any

such tax shall become immediately due and payable. The Secretary

shall immediately assess the amount of tax so determined

(together with all interest, additional amounts, and additions to

the tax provided by law) for the current year or the preceding

taxable year, or both, and shall cause notice of such

determination and assessment to be given to the organization or

any manager thereof, as the case may be, together with a demand

for immediate payment of such tax.

(2) Computation of tax

In the case of a current taxable year, the Secretary shall

determine the taxes for the period beginning on the 1st day of

such current taxable year and ending on the date of the

determination under paragraph (1) as though such period were a

taxable year of the organization, and shall take into account any

prior determination made under this subsection with respect to

such current taxable year.

(3) Treatment of amounts collected

Any amounts collected as a result of any assessments under this

subsection shall, to the extent thereof, be treated as a payment

of income tax for such taxable year, or tax under section 4955

with respect to the expenditure, as the case may be.

(4) Section inapplicable to assessments after due date

This section shall not authorize any assessment of tax for the

preceding taxable year which is made after the due date of the

organization's return for such taxable year (determined with

regard to any extensions).

(b) Definitions and special rules

(1) Definitions

For purposes of this section, the terms "section 501(c)(3)

organization", "political expenditure", and "organization

manager" have the respective meanings given to such terms by

section 4955.

(2) Certain rules made applicable

The provisions of sections 6851(b), 6861(f), and 6861(g) shall

apply with respect to any assessment made under subsection (a),

except that determinations under section 6861(g) shall be made on

the basis of whether the requirements of subsection (a)(1)(B) of

this section are met in lieu of whether jeopardy exists.

-SOURCE-

(Added Pub. L. 100-203, title X, Sec. 10713(b)(1), Dec. 22, 1987,

101 Stat. 1330-469.)

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 6091, 6211, 6212, 6213,

6234, 6863, 7429, 7611 of this title.

-End-

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26 USC PART II - JEOPARDY ASSESSMENTS 01/06/03

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TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

Subchapter A - Jeopardy

PART II - JEOPARDY ASSESSMENTS

-HEAD-

PART II - JEOPARDY ASSESSMENTS

-MISC1-

Sec.

6861. Jeopardy assessments of income, estate, gift, and

certain excise taxes.

6862. Jeopardy assessment of taxes other than income,

estate, gift, and certain excise taxes.

6863. Stay of collection of jeopardy assessments.

6864. Termination of extended period for payment in case of

carryback.

AMENDMENTS

1974 - Pub. L. 93-406, title II, Sec. 1016(b)(5), Sept. 2, 1974,

88 Stat. 932, substituted "gift, and certain excise taxes" for "and

gift taxes" in items 6861 and 6862.

-End-

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26 USC Sec. 6861 01/06/03

-EXPCITE-

TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

Subchapter A - Jeopardy

PART II - JEOPARDY ASSESSMENTS

-HEAD-

Sec. 6861. Jeopardy assessments of income, estate, gift, and

certain excise taxes

-STATUTE-

(a) Authority for making

If the Secretary believes that the assessment or collection of a

deficiency, as defined in section 6211, will be jeopardized by

delay, he shall, notwithstanding the provisions of section 6213(a),

immediately assess such deficiency (together with all interest,

additional amounts, and additions to the tax provided for by law),

and notice and demand shall be made by the Secretary for the

payment thereof.

(b) Deficiency letters

If the jeopardy assessment is made before any notice in respect

of the tax to which the jeopardy assessment relates has been mailed

under section 6212(a), then the Secretary shall mail a notice under

such subsection within 60 days after the making of the assessment.

(c) Amount assessable before decision of Tax Court

The jeopardy assessment may be made in respect of a deficiency

greater or less than that notice of which has been mailed to the

taxpayer, despite the provisions of section 6212(c) prohibiting the

determination of additional deficiencies, and whether or not the

taxpayer has theretofore filed a petition with the Tax Court. The

Secretary may, at any time before the decision of the Tax Court is

rendered, abate such assessment, or any unpaid portion thereof, to

the extent that he believes the assessment to be excessive in

amount. The Secretary shall notify the Tax Court of the amount of

such assessment, or abatement, if the petition is filed with the

Tax Court before the making of the assessment or is subsequently

filed, and the Tax Court shall have jurisdiction to redetermine the

entire amount of the deficiency and of all amounts assessed at the

same time in connection therewith.

(d) Amount assessable after decision of Tax Court

If the jeopardy assessment is made after the decision of the Tax

Court is rendered, such assessment may be made only in respect of

the deficiency determined by the Tax Court in its decision.

(e) Expiration of right to assess

A jeopardy assessment may not be made after the decision of the

Tax Court has become final or after the taxpayer has filed a

petition for review of the decision of the Tax Court.

(f) Collection of unpaid amounts

When the petition has been filed with the Tax Court and when the

amount which should have been assessed has been determined by a

decision of the Tax Court which has become final, then any unpaid

portion, the collection of which has been stayed by bond as

provided in section 6863(b) shall be collected as part of the tax

upon notice and demand from the Secretary, and any remaining

portion of the assessment shall be abated. If the amount already

collected exceeds the amount determined as the amount which should

have been assessed, such excess shall be credited or refunded to

the taxpayer as provided in section 6402, without the filing of

claim therefor. If the amount determined as the amount which should

have been assessed is greater than the amount actually assessed,

then the difference shall be assessed and shall be collected as

part of the tax upon notice and demand from the Secretary.

(g) Abatement if jeopardy does not exist

The Secretary may abate the jeopardy assessment if he finds that

jeopardy does not exist. Such abatement may not be made after a

decision of the Tax Court in respect of the deficiency has been

rendered or, if no petition is filed with the Tax Court, after the

expiration of the period for filing such petition. The period of

limitation on the making of assessments and levy or a proceeding in

court for collection, in respect of any deficiency, shall be

determined as if the jeopardy assessment so abated had not been

made, except that the running of such period shall in any event be

suspended for the period from the date of such jeopardy assessment

until the expiration of the 10th day after the day on which such

jeopardy assessment is abated.

(h) Cross references

(1) For the effect of the furnishing of security for payment,

see section 6863.

(2) For provision permitting immediate levy in case of

jeopardy, see section 6331(a).

-SOURCE-

(Aug. 16, 1954, ch. 736, 68A Stat. 834; Pub. L. 93-406, title II,

Sec. 1016(a)(24), Sept. 2, 1974, 88 Stat. 931; Pub. L. 94-455,

title XIX, Sec. 1906(b)(13)(A), Oct. 4, 1976,90 Stat. 1834.)

-MISC1-

AMENDMENTS

1976 - Pub. L. 94-455 struck out "or his delegate" after

"Secretary" wherever appearing.

1974 - Pub. L. 93-406 substituted ", gift, and certain excise

taxes" for "and gift taxes" in section catchline.

EFFECTIVE DATE OF 1974 AMENDMENT

Amendment by Pub. L. 93-406 applicable, except as otherwise

provided in section 1017(c) through (i) of Pub. L. 93-406, for plan

years beginning after Sept. 2, 1974, but, in the case of plans in

existence on Jan. 1, 1974, amendment by Pub. L. 93-406 applicable

for plan years beginning after Dec. 31, 1975, see section 1017 of

Pub. L. 93-406, set out as an Effective Date; Transitional Rules

note under section 410 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 534, 6015, 6212, 6213,

6231, 6234, 6656, 6852, 6863, 6867, 7429, 7611 of this title; title

5 section 5568; title 37 section 558.

-End-

-CITE-

26 USC Sec. 6862 01/06/03

-EXPCITE-

TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

Subchapter A - Jeopardy

PART II - JEOPARDY ASSESSMENTS

-HEAD-

Sec. 6862. Jeopardy assessment of taxes other than income, estate,

gift, and certain excise taxes

-STATUTE-

(a) Immediate assessment

If the Secretary believes that the collection of any tax (other

than income tax, estate tax, gift tax, and the excise taxes imposed

by chapters 41, 42, 43, and 44) under any provision of the internal

revenue laws will be jeopardized by delay, he shall, whether or not

the time otherwise prescribed by law for making return and paying

such tax has expired, immediately assess such tax (together with

all interest, additional amounts, and additions to the tax provided

for by law). Such tax, additions to the tax, and interest shall

thereupon become immediately due and payable, and immediate notice

and demand shall be made by the Secretary for the payment thereof.

(b) Immediate levy

For provision permitting immediate levy in case of jeopardy,

see section 6331(a).

-SOURCE-

(Aug. 16, 1954, ch. 736, 68A Stat. 836; Pub. L. 93-406, title II,

Sec. 1016(a)(25), Sept. 2, 1974, 88 Stat. 931; Pub. L. 94-455,

title XIX, Sec. 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub.

L. 96-222, title I, Sec. 108(b)(1)(C), Apr. 1, 1980, 94 Stat. 226;

Pub. L. 96-223, title I, Sec. 101(f)(9), Apr. 2, 1980, 94 Stat.

253; Pub. L. 100-418, title I, Sec. 1941(b)(2)(N), Aug. 23, 1988,

102 Stat. 1324.)

-MISC1-

AMENDMENTS

1988 - Subsec. (a). Pub. L. 100-418 substituted "and 44" for "44,

and 45".

1980 - Subsec. (a). Pub. L. 96-223 which directed the

substitution of "the excise taxes imposed by chapters 41, 42, 43,

44, and 45" for "certain excise taxes" was executed by inserting

reference to chapter 45 in view of the amendment by Pub. L. 96-222.

Pub. L. 96-222 substituted "the taxes imposed by chapters 41, 42,

43, and 44" for "certain excise taxes".

1976 - Subsec. (a). Pub. L. 94-455 struck out "or his delegate"

after "Secretary" wherever appearing.

1974 - Pub. L. 93-406 substituted ", gift, and certain excise

taxes" for ", and gift taxes" in section catchline and "gift tax,

and certain excise taxes)" for "and gift tax)" in subsec. (a).

EFFECTIVE DATE OF 1988 AMENDMENT

Amendment by Pub. L. 100-418 applicable to crude oil removed from

the premises on or after Aug. 23, 1988, see section 1941(c) of Pub.

L. 100-418, set out as a note under section 164 of this title.

EFFECTIVE DATE OF 1980 AMENDMENTS

Amendment by Pub. L. 96-223 applicable to periods after Feb. 29,

1980, see section 101(i) of Pub. L. 96-223, set out as a note under

section 6161 of this title.

Amendment by Pub. L. 96-222 effective as if included in the

provisions of the Black Lung Benefits Revenue Act of 1977, Pub. L.

95-227, see section 108(b)(4) of Pub. L. 96-222, set out as a note

under section 192 of this title.

EFFECTIVE DATE OF 1974 AMENDMENT

Amendment by Pub. L. 93-406 applicable, except as otherwise

provided in section 1017(c) through (i) of Pub. L. 93-406, for plan

years beginning after Sept. 2, 1974, but, in the case of plans in

existence on Jan. 1, 1974, amendment by Pub. L. 93-406 applicable

for plan years beginning after Dec. 31, 1975, see section 1017 of

Pub. L. 93-406, set out as an Effective Date; Transitional Rules

note under section 410 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 6656, 6863, 7429 of this

title.

-End-

-CITE-

26 USC Sec. 6863 01/06/03

-EXPCITE-

TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

Subchapter A - Jeopardy

PART II - JEOPARDY ASSESSMENTS

-HEAD-

Sec. 6863. Stay of collection of jeopardy assessments

-STATUTE-

(a) Bond to stay collection

When an assessment has been made under section 6851, 6852,,(!1)

6861 or 6862, the collection of the whole or any amount of such

assessment may be stayed by filing with the Secretary, within such

time as may be fixed by regulations prescribed by the Secretary, a

bond in an amount equal to the amount as to which the stay is

desired, conditioned upon the payment of the amount (together with

interest thereon) the collection of which is stayed, at the time at

which, but for the making of such assessment, such amount would be

due. Upon the filing of the bond the collection of so much of the

amount assessed as is covered by the bond shall be stayed. The

taxpayer shall have the right to waive such stay at any time in

respect of the whole or any part of the amount covered by the bond,

and if as a result of such waiver any part of the amount covered by

the bond is paid, then the bond shall, at the request of the

taxpayer, be proportionately reduced. If any portion of such

assessment is abated, the bond shall, at the request of the

taxpayer, be proportionately reduced.

(b) Further conditions in case of income, estate, or gift taxes

In the case of taxes subject to the jurisdiction of the Tax Court

-

(1) Prior to petition to Tax Court

If the bond is given before the taxpayer has filed his petition

under section 6213(a), the bond shall contain a further condition

that if a petition is not filed within the period provided in

such section, then the amount, the collection of which is stayed

by the bond, will be paid on notice and demand at any time after

the expiration of such period, together with interest thereon

from the date of the jeopardy notice and demand to the date of

notice and demand under this paragraph.

(2) Effect of Tax Court decision

The bond shall be conditioned upon the payment of so much of

such assessment (collection of which is stayed by the bond) as is

not abated by a decision of the Tax Court which has become final.

If the Tax Court determines that the amount assessed is greater

than the amount which should have been assessed, then when the

decision of the Tax Court is rendered the bond shall, at the

request of the taxpayer, be proportionately reduced.

(3) Stay of sale of seized property pending Tax Court decision

(A) General rule

Where, notwithstanding the provisions of section 6213(a), an

assessment has been made under section 6851, 6852, or 6861, the

property seized for the collection of the tax shall not be sold

-

(i) before the expiration of the periods described in

subsection (c)(1)(A) and (B),

(ii) before the issuance of the notice of deficiency

described in section 6851(b) or 6861(b), and the expiration

of the period provided in section 6213(a) for filing a

petition with the Tax Court, and

(iii) if a petition is filed with the Tax Court (whether

before or after the making of such assessment), before the

expiration of the period during which the assessment of the

deficiency would be prohibited if neither sections 6851(a),

6852(a), nor 6861(a) were applicable.

Clauses (ii) and (iii) shall not apply in the case of a

termination assessment under section 6851 if the taxpayer does

not file a return for the taxable year by the due date

(determined with regard to any extensions).

(B) Exceptions

Such property may be sold if -

(i) the taxpayer consents to the sale,

(ii) the Secretary determines that the expenses of

conservation and maintenance will greatly reduce the net

proceeds, or

(iii) the property is of the type described in section

6336.

(C) Review by Tax Court

If, but for the application of subparagraph (B), a sale would

be prohibited by subparagraph (A)(iii), then the Tax Court

shall have jurisdiction to review the Secretary's determination

under subparagraph (B) that the property may be sold. Such

review may be commenced upon motion by either the Secretary or

the taxpayer. An order of the Tax Court disposing of a motion

under this paragraph shall be reviewable in the same manner as

a decision of the Tax Court.

(c) Stay of sale of seized property pending district court

determination under section 7429

(1) General rule

Where a jeopardy assessment has been made under section

6862(a), the property seized for the collection of the tax shall

not be sold -

(A) if a civil action is commenced in accordance with section

7429(b), on or before the day on which the district court

judgment in such action becomes final, or

(B) if subparagraph (A) does not apply, before the day after

the expiration of the period provided in section 7429(a) for

requesting an administrative review, and if such review is

requested, before the day after the expiration of the period

provided in section 7429(b), for commencing an action in the

district court.

(2) Exceptions

With respect to any property described in paragraph (1), the

exceptions provided by subsection (b)(3)(B) shall apply.

-SOURCE-

(Aug. 16, 1954, ch. 736, 68A Stat. 836; Pub. L. 94-455, title XII,

Sec. 1204(c)(7)-(9), title XIX, Sec. 1906(a)(38), (b)(13)(A), Oct.

4, 1976, 90 Stat. 1698, 1830, 1834; Pub. L. 100-203, title X, Sec.

10713(b)(2)(E), Dec. 22, 1987, 101 Stat. 1330-470; Pub. L. 100-647,

title VI, Sec. 6245(a), Nov. 10, 1988, 102 Stat. 3750; Pub. L.

101-239, title VII, Sec. 7822(d)(2), Dec. 19, 1989, 103 Stat.

2425.)

-MISC1-

AMENDMENTS

1989 - Subsec. (b)(3)(A)(iii). Pub. L. 101-239 made technical

correction to Pub. L. 100-203, Sec. 10713(b)(2)(E)(iii), see 1987

Amendment note below.

1988 - Subsec. (b)(3)(C). Pub. L. 100-647 added subpar. (C).

1987 - Subsec. (a). Pub. L. 100-203, Sec. 10713(b)(2)(E)(i),

substituted "6851, 6852," for "6851".

Subsec. (b)(3)(A). Pub. L. 100-203, Sec. 10713(b)(2)(E)(ii),

substituted "6851, 6852, or 6861" for "6851 or 6861".

Subsec. (b)(3)(A)(iii). Pub. L. 100-203, Sec.

10713(b)(2)(E)(iii), as amended by Pub. L. 101-239, substituted

"6851(a), 6852(a), nor 6861(a)" for "6851(a) nor 6861(a)".

1976 - Subsec. (a). Pub. L. 94-455, Secs. 1204(c)(7),

1906(b)(13)(A), inserted reference to section 6851, substituted "an

assessment" for "a jeopardy assessment", struck out "or his

delegate" after "Secretary", and substituted "such assessment" for

"the jeopardy assessment".

Subsec. (b)(3)(A). Pub. L. 94-455, Sec. 1204(c)(8), substituted

"an assessment has been made under section 6851 or 6861," for "a

jeopardy assessment has been made under section 6861" in provisions

preceding cl. (i), added cl. (i), redesignated former cl. (i) as

(ii) and substituted "before the issuance of the notice of

deficiency described in section 6851(b) or 6861(b), and the

expiration of the period" for "if section 6861(b) is applicable,

prior to the issuance of the notice of deficiency and the

expiration of the time", redesignated former cl. (ii) as (iii) and

substituted "assessment), before the expiration" for "jeopardy

assessment under section 6861), prior to the expiration" and "if

neither sections 6851(a) nor 6861(a) were applicable" for "if

section 6861(a) were not applicable", and inserted provisions

following cl. (iii).

Subsec. (b)(3)(B)(ii). Pub. L. 94-455, Sec. 1906(b)(13)(A),

struck out "or his delegate" after "Secretary".

Subsec. (b)(3)(C). Pub. L. 94-455, Sec. 1906(a)(38), struck out

subpar. (C) which had limited the applicability of subpars. (A) and

(B) to jeopardy assessments made on or after Jan. 1, 1955, with

respect to taxes imposed by this title, and with respect to taxes

imposed by the Internal Revenue Code of 1939.

Subsec. (c). Pub. L. 94-455, Sec. 1204(c)(9), added subsec. (c).

EFFECTIVE DATE OF 1989 AMENDMENT

Amendment by Pub. L. 101-239 effective as if included in the

provision of the Revenue Act of 1987, Pub. L. 100-203, title X, to

which such amendment relates, see section 7823 of Pub. L. 101-239,

set out as a note under section 26 of this title.

EFFECTIVE DATE OF 1988 AMENDMENT

Section 6245(b) of Pub. L. 100-647 provided that: "The amendments

made by this section [amending this section] shall take effect on

the 90th day after the date of the enactment of this Act [Nov. 10,

1988]."

EFFECTIVE DATE OF 1976 AMENDMENT

Amendment by section 1204(c)(7)-(9) of Pub. L. 94-455 applicable

with respect to action taken under section 6851, 6861, or 6862 of

this title where notice and demand takes place after Feb. 28, 1977,

see section 1204(d) of Pub. L. 94-455, as amended, set out as a

note under section 6851 of this title.

Amendment by section 1906(a)(38), (b)(13)(A) of Pub. L. 94-455

effective on first day of first month which begins more than ninety

days after Oct. 4, 1976, see section 1906(d)(1) of Pub. L. 94-455,

set out as a note under section 6013 of this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 6861, 7103 of this title.

-FOOTNOTE-

(!1) So in original.

-End-

-CITE-

26 USC Sec. 6864 01/06/03

-EXPCITE-

TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

Subchapter A - Jeopardy

PART II - JEOPARDY ASSESSMENTS

-HEAD-

Sec. 6864. Termination of extended period for payment in case of

carryback

-STATUTE-

For termination of extensions of time for payment of income

tax granted to corporations expecting carrybacks in case of

jeopardy, see section 6164(h).

-SOURCE-

(Aug. 16, 1954, ch. 736, 68A Stat. 837.)

-End-

-CITE-

26 USC PART III - SPECIAL RULES WITH RESPECT TO CERTAIN

CASH 01/06/03

-EXPCITE-

TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

Subchapter A - Jeopardy

PART III - SPECIAL RULES WITH RESPECT TO CERTAIN CASH

-HEAD-

PART III - SPECIAL RULES WITH RESPECT TO CERTAIN CASH

-MISC1-

Sec.

6867. Presumptions where owner of large amount of cash is

not identified.

-End-

-CITE-

26 USC Sec. 6867 01/06/03

-EXPCITE-

TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

Subchapter A - Jeopardy

PART III - SPECIAL RULES WITH RESPECT TO CERTAIN CASH

-HEAD-

Sec. 6867. Presumptions where owner of large amount of cash is not

identified

-STATUTE-

(a) General rule

If the individual who is in physical possession of cash in excess

of $10,000 does not claim such cash -

(1) as his, or

(2) as belonging to another person whose identity the Secretary

can readily ascertain and who acknowledges ownership of such

cash,

then, for purposes of sections 6851 and 6861, it shall be presumed

that such cash represents gross income of a single individual for

the taxable year in which the possession occurs, and that the

collection of tax will be jeopardized by delay.

(b) Rules for assessing

In the case of any assessment resulting from the application of

subsection (a) -

(1) the entire amount of the cash shall be treated as taxable

income for the taxable year in which the possession occurs,

(2) such income shall be treated as taxable at the highest rate

of tax specified in section 1, and

(3) except as provided in subsection (c), the possessor of the

cash shall be treated (solely with respect to such cash) as the

taxpayer for purposes of chapters 63 and 64 and section

7429(a)(1).

(c) Effect of later substitution of true owner

If, after an assessment resulting from the application of

subsection (a), such assessment is abated and replaced by an

assessment against the owner of the cash, such later assessment

shall be treated for purposes of all laws relating to lien, levy

and collection as relating back to the date of the original

assessment.

(d) Definitions

For purposes of this section -

(1) Cash

The term "cash" includes any cash equivalent.

(2) Cash equivalent

The term "cash equivalent" means -

(A) foreign currency,

(B) any bearer obligation, and

(C) any medium of exchange which -

(i) is of a type which has been frequently used in illegal

activities, and

(ii) is specified as a cash equivalent for purposes of this

part in regulations prescribed by the Secretary.

(3) Value of cash equivalent

Any cash equivalent shall be taken into account -

(A) in the case of a bearer obligation, at its face amount,

and

(B) in the case of any other cash equivalent, at its fair

market value.

-SOURCE-

(Added Pub. L. 97-248, title III, Sec. 330(a), Sept. 3, 1982, 96

Stat. 619; amended Pub. L. 100-647, title I, Sec. 1001(a)(1), Nov.

10, 1988, 102 Stat. 3349.)

-MISC1-

AMENDMENTS

1988 - Subsec. (b)(2). Pub. L. 100-647 substituted "the highest

rate of tax specified in section 1" for "a 50-percent rate".

EFFECTIVE DATE OF 1988 AMENDMENT

Amendment by Pub. L. 100-647 effective, except as otherwise

provided, as if included in the provision of the Tax Reform Act of

1986, Pub. L. 99-514, to which such amendment relates, see section

1019(a) of Pub. L. 100-647, set out as a note under section 1 of

this title.

EFFECTIVE DATE

Section 330(c) of Pub. L. 97-248 provided that: "The amendments

made by subsections (a) and (b) [enacting this section] shall take

effect on the day after the date of the enactment of this Act

[Sept. 3, 1982]."

-End-

-CITE-

26 USC Subchapter B - Receiverships, Etc. 01/06/03

-EXPCITE-

TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

Subchapter B - Receiverships, Etc.

-HEAD-

SUBCHAPTER B - RECEIVERSHIPS, ETC.

-MISC1-

Sec.

6871. Claims for income, estate, gift, and certain excise

taxes in receivership proceedings, etc.

6872. Suspension of period on assessment.

6873. Unpaid claims.

AMENDMENTS

1980 - Pub. L. 96-589, Sec. 6(g)(3)(A), (B), Dec. 24, 1980, 94

Stat. 3410, substituted "Receiverships, Etc." for "Bankruptcy and

Receiverships" in subchapter heading, and "gift, and certain excise

taxes in receivership proceedings, etc." for "and gift taxes in

bankruptcy and receivership proceedings" in item 6871.

-SECREF-

SUBCHAPTER REFERRED TO IN OTHER SECTIONS

This subchapter is referred to in sections 6216, 6503, 7811 of

this title.

-End-

-CITE-

26 USC Sec. 6871 01/06/03

-EXPCITE-

TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

Subchapter B - Receiverships, Etc.

-HEAD-

Sec. 6871. Claims for income, estate, gift, and certain excise

taxes in receivership proceedings, etc.

-STATUTE-

(a) Immediate assessment in receivership proceedings

On the appointment of a receiver for the taxpayer in any

receivership proceeding before any court of the United States or of

any State or of the District of Columbia, any deficiency (together

with all interest, additional amounts, and additions to the tax

provided by law) determined by the Secretary in respect of a tax

imposed by subtitle A or B or by chapter 41, 42, 43, or 44 on such

taxpayer may, despite the restrictions imposed by section 6213(a)

on assessments, be immediately assessed if such deficiency has not

theretofore been assessed in accordance with law.

(b) Immediate assessment with respect to certain title 11 cases

Any deficiency (together with all interest, additional amounts,

and additions to the tax provided by law) determined by the

Secretary in respect of a tax imposed by subtitle A or B or by

chapter 41, 42, 43, or 44 on -

(1) the debtor's estate in a case under title 11 of the United

States Code, or

(2) the debtor, but only if liability for such tax has become

res judicata pursuant to a determination in a case under title 11

of the United States Code,

may, despite the restrictions imposed by section 6213(a) on

assessments, be immediately assessed if such deficiency has not

theretofore been assessed in accordance with law.

(c) Claim filed despite pendency of tax court proceedings

In the case of a tax imposed by subtitle A or B or by chapter 41,

42, 43, or 44 -

(1) claims for the deficiency and for interest, additional

amounts, and additions to the tax may be presented, for

adjudication in accordance with law, to the court before which

the receivership proceeding (or the case under title 11 of the

United States Code) is pending, despite the pendency of

proceedings for the redetermination of the deficiency pursuant to

a petition to the Tax Court; but

(2) in the case of a receivership proceeding, no petition for

any such redetermination shall be filed with the Tax Court after

the appointment of the receiver.

-SOURCE-

(Aug. 16, 1954, ch. 736, 68A Stat. 838; Pub. L. 85-866, title I,

Sec. 88, Sept. 2, 1958, 72 Stat. 1665; Pub. L. 94-455, title XIX,

Secs. 1906(b)(13)(A), (c)(1), Oct. 4, 1976, 90 Stat. 1834, 1835;

Pub. L. 96-589, Sec. 6(g)(1), Dec. 24, 1980, 94 Stat. 3409; Pub. L.

101-239, title VII, Sec. 7841(d)(2), Dec. 19, 1989, 103 Stat.

2428.)

-MISC1-

AMENDMENTS

1989 - Pub. L. 101-239 substituted "or 44" for "44, or 45" in

subsecs. (a), (b), and (c).

1980 - Subsec. (a). Pub. L. 96-589 amended subsec. (a) generally,

substituting reference to appointment of a receiver for the

taxpayer in any receivership proceedings, for reference to

adjudication of bankruptcy of a taxpayer in a liquidating

proceeding, the filing or the approval of a petition of or the

approval of a petition against any taxpayer in any other bankruptcy

proceeding, or the appointment of a receiver for any taxpayer in

any receivership proceeding, and inserted reference to chapters 41,

42, 43, 44, and 45.

Subsecs. (b), (c). Pub. L. 96-589 added subsec. (b), redesignated

former subsec. (b) as (c), inserted reference to chapters 41, 42,

43, 44, and 45, and struck out reference to bankruptcy proceedings.

1976 - Subsec. (a). Pub. L. 94-455, Sec. 1906(b)(13)(A), struck

out "or his delegate" after "Secretary".

Pub. L. 94-455, Sec. 1906(c)(1), struck out "or Territory" after

"any State".

1958 - Subsec. (a). Pub. L. 85-866, Sec. 88(a), substituted "the

filing or (where approval is required by the Bankruptcy Act) the

approval of a petition of, or the approval of a petition against,

any taxpayer" for "the approval of a petition of, or against, any

taxpayer".

Subsec. (b). Pub. L. 85-866, Sec. 88(b), substituted "the filing

or (where approval is required by the Bankruptcy Act) the approval

of a petition of, or the approval of a petition against, any

taxpayer" for "approval of the petition".

EFFECTIVE DATE OF 1980 AMENDMENT

Amendment by Pub. L. 96-589 effective Oct. 1, 1979, but not

applicable to proceedings under Title 11, Bankruptcy, commenced

before Oct. 1, 1979, see section 7(e) of Pub. L. 96-589, set out as

a note under section 108 of this title.

EFFECTIVE DATE OF 1976 AMENDMENT

Amendment by Pub. L. 94-455 effective on first day of first month

which begins more than ninety days after Oct. 4, 1976, see section

1906(d)(1) of Pub. L. 94-455, set out as a note under section 6013

of this title.

EFFECTIVE DATE OF 1958 AMENDMENT

Amendment by Pub. L. 85-866 effective Aug. 17, 1954, see section

1(c)(2) of Pub. L. 85-866, set out as a note under section 165 of

this title.

-SECREF-

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in title 5 section 5568; title 37

section 558.

-End-

-CITE-

26 USC Sec. 6872 01/06/03

-EXPCITE-

TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

Subchapter B - Receiverships, Etc.

-HEAD-

Sec. 6872. Suspension of period on assessment

-STATUTE-

If the regulations issued pursuant to section 6036 require the

giving of notice by any fiduciary in any case under title 11 of the

United States Code, or by a receiver in any other court proceeding,

to the Secretary of his qualification as such, the running of the

period of limitations on the making of assessments shall be

suspended for the period from the date of the institution of the

proceeding to a date 30 days after the date upon which the notice

from the receiver or other fiduciary is received by the Secretary;

but the suspension under this sentence shall in no case be for a

period in excess of 2 years.

-SOURCE-

(Aug. 16, 1954, ch. 736, 68A Stat. 838; Pub. L. 94-455, title XIX,

Sec. 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 96-589,

Sec. 6 (i)(12), Dec. 24, 1980, 94 Stat. 3411.)

-MISC1-

AMENDMENTS

1980 - Pub. L. 96-589 substituted "any case under title 11 of the

United States Code" for "any proceeding under the Bankruptcy Act".

1976 - Pub. L. 94-455 struck out "or his delegate" after

"Secretary" wherever appearing.

EFFECTIVE DATE OF 1980 AMENDMENT

Amendment by Pub. L. 96-589 effective Oct. 1, 1979, but not

applicable to proceedings under Title 11, Bankruptcy, commenced

before Oct. 1, 1979, see section 7(e) of Pub. L. 96-589, set out as

a note under section 108 of this title.

-End-

-CITE-

26 USC Sec. 6873 01/06/03

-EXPCITE-

TITLE 26 - INTERNAL REVENUE CODE

Subtitle F - Procedure and Administration

CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.

Subchapter B - Receiverships, Etc.

-HEAD-

Sec. 6873. Unpaid claims

-STATUTE-

(a) General rule

Any portion of a claim for taxes allowed in a receivership

proceeding which is unpaid shall be paid by the taxpayer upon

notice and demand from the Secretary after the termination of such

proceeding.

(b) Cross references

(1) For suspension of running of period of limitations on

collection, see section 6503(b).

(2) For extension of time for payment, see section 6161(c).

-SOURCE-

(Aug. 16, 1954, ch. 736, 68A Stat. 838; Pub. L. 94-455, title XIX,

Sec. 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 96-589,

Sec. 6(g)(2), Dec. 24, 1980, 94 Stat. 3409.)

-MISC1-

AMENDMENTS

1980 - Subsec. (a). Pub. L. 96-589 struck out reference to

proceedings under the Bankruptcy Act.

1976 - Subsec. (a). Pub. L. 94-455 struck out "or his delegate"

after "Secretary".

EFFECTIVE DATE OF 1980 AMENDMENT

Amendment by Pub. L. 96-589 effective Oct. 1, 1979, but not

applicable to proceedings under Title 11, Bankruptcy, commenced

before Oct. 1, 1979, see section 7(e) of Pub. L. 96-589, set out as

a note under section 108 of this title.

-End-