Source: https://www.law.cornell.edu/uscode/text/26/7485
Timestamp: 2017-07-28 04:54:20
Document Index: 447799001

Matched Legal Cases: ['§ 7485', '§\u202f7485', '§\u202f960', '§\u202f402', '§\u202f3', '§\u202f1222', '§\u202f1101', '§\u202f1101', '§\u202f1222', '§\u202f1222', '§\u202f1241', '§\u202f1241']

26 U.S. Code § 7485 - Bond to stay assessment and collection | US Law | LII / Legal Information Institute
§ 7485.
Bond to stay assessment and collection
(a) Upon notice of appealNotwithstanding any provision of law imposing restrictions on the assessment and collection of deficiencies, the review under section 7483 shall not operate as a stay of assessment or collection of any portion of the amount of the deficiency determined by the Tax Court unless a notice of appeal in respect of such portion is duly filed by the taxpayer, and then only if the taxpayer—
(b) Bond in case of appeal of certain partnership-related decisions
The condition of subsection (a) shall be satisfied if a partner duly files notice of appeal from a decision under section 6226, 6228(a), 6247, or 6252 and on or before the time the notice of appeal is filed with the Tax Court, a bond in an amount fixed by the Tax Court is filed, and with surety approved by the Tax Court, conditioned upon the payment of deficiencies attributable to the partnership items to which that decision relates as finally determined, together with any interest, penalties, additional amounts, or additions to the tax provided by law. Unless otherwise stipulated by the parties, the amount fixed by the Tax Court shall be based upon its estimate of the aggregate liability of the parties to the action.
For requirement of additional security notwithstanding this section, see section 7482(c)(3).
(Aug. 16, 1954, ch. 736, 68A Stat. 891; Pub. L. 91–172, title IX, § 960(h)(3), Dec. 30, 1969, 83 Stat. 735; Pub. L. 97–248, title IV, § 402(c)(16), Sept. 3, 1982, 96 Stat. 668; Pub. L. 97–258, § 3(f)(15), Sept. 13, 1982, 96 Stat. 1065; Pub. L. 105–34, title XII, §§ 1222(b)(4), 1241(a), Aug. 5, 1997, 111 Stat. 1019, 1029; Pub. L. 114–74, title XI, § 1101(f)(14), Nov. 2, 2015, 129 Stat. 638.)
Pub. L. 114–74, title XI, § 1101(f)(14), (g), Nov. 2, 2015, 129 Stat. 638, provided that, applicable to returns filed for partnership taxable years beginning after Dec. 31, 2017, with certain exceptions, subsection (b) of this section is amended by striking “section 6226, 6228(a), 6247, or 6252” and inserting “section 6234”. See 2015 Amendment note below.
2015—Subsec. (b). Pub. L. 114–74 substituted “section 6234” for “section 6226, 6228(a), 6247, or 6252”.
1997—Subsec. (b). Pub. L. 105–34, § 1222(b)(4)(B), amended heading generally. Prior to amendment, heading read as follows: “Bond in case of appeal of decision under section 6226 or section 6228(a)”.
Pub. L. 105–34, § 1222(b)(4)(A), substituted “, 6228(a), 6247, or 6252” for “or 6228(a)”.
Pub. L. 105–34, § 1241(a), inserted “penalties,” after “any interest,” and substituted “aggregate liability of the parties to the action” for “aggregate of such deficiencies”.
1982—Subsecs. (b), (c). Pub. L. 97–248 added subsec. (b) and redesignated former subsec. (b) as (c).
Subsec. (c)(2). Pub. L. 97–258 substituted “section 9303 of title 31, United States Code” for “6 U.S.C. 15”. Notwithstanding the directory language that amendment be made to subsec. (b)(2), the amendment was executed to subsec. (c)(2) to reflect the probable intent of Congress and the intervening redesignation of subsec. (b) as (c) by Pub. L. 97–248.
1969—Subsec. (a). Pub. L. 91–172 substituted “notice of appeal” for “petition for review” and “appeal bond” for “review bond”.
Amendment by section 1222(b)(4) of Pub. L. 105–34 applicable to partnership taxable years beginning after Dec. 31, 1997, see section 1226 of Pub. L. 105–34, as amended, set out as a note under section 6011 of this title.
Pub. L. 105–34, title XII, § 1241(b), Aug. 5, 1997, 111 Stat. 1029, provided that: “The amendment made by this section [amending this section] shall take effect as if included in the amendments made by section 402 of the Tax Equity and Fiscal Responsibility Act of 1982 [Pub. L. 97–248].”