[Code of Federal Regulations]
[Title 26, Volume 18]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR301.6503(b)-1]

[Page 376]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 301_PROCEDURE AND ADMINISTRATION--Table of Contents
 
                               Limitations
 
Sec. 301.6503(b)-1  Suspension of running of period of limitation; assets 
of taxpayer in control or custody of court.

    Where all or substantially all of the assets of a taxpayer are in 
the control or custody of the court in any proceeding before any court 
of the United States, or of any State of the United States, or of the 
District of Columbia, the period of limitations on collection after 
assessment prescribed in section 6502 is suspended with respect to the 
outstanding amount due on the assessment for the period such assets are 
in the control or custody of the court, and for 6 months thereafter. In 
the case of an estate of a decedent or an incompetent, the period of 
limitations on collection is suspended only for periods beginning after 
November 2, 1966, during which assets are in the control or custody of a 
court, and for 6 months thereafter.

[T.D. 7121, 36 FR 10782, June 3, 1971]