-CITE-
    26 USC CHAPTER 70 - JEOPARDY, RECEIVERSHIPS, ETC.           01/03/2007

-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.

-FOOTNOTE-
    (!1) Section numbers editorially supplied.

-End-

-CITE-
    26 USC Subchapter A - Jeopardy                              01/03/2007

-EXPCITE-
    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.

-End-

-CITE-
    26 USC PART I - TERMINATION OF TAXABLE YEAR                 01/03/2007

-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-
                   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-

-CITE-
    26 USC Sec. 6851                                            01/03/2007

-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. 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.

-End-

-CITE-
    26 USC Sec. 6852                                            01/03/2007

-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.)

-End-

-CITE-
    26 USC PART II - JEOPARDY ASSESSMENTS                       01/03/2007

-EXPCITE-
    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-

-CITE-
    26 USC Sec. 6861                                            01/03/2007

-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.

-End-

-CITE-
    26 USC Sec. 6862                                            01/03/2007

-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.

-End-

-CITE-
    26 USC Sec. 6863                                            01/03/2007

-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.

-FOOTNOTE-
    (!1) So in original.

-End-

-CITE-
    26 USC Sec. 6864                                            01/03/2007

-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                                            01/03/2007

-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                                            01/03/2007

-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.                   01/03/2007

-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.

-End-

-CITE-
    26 USC Sec. 6871                                            01/03/2007

-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.

-End-

-CITE-
    26 USC Sec. 6872                                            01/03/2007

-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                                            01/03/2007

-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-