[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: 26CFR301.6862-1]

[Page 464-465]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 301_PROCEDURE AND ADMINISTRATION--Table of Contents
 
                 Jeopardy, Bankruptcy, and Receiverships
 
Sec. 301.6862-1  Jeopardy assessment of taxes other than income, estate, 
gift, and certain excise taxes.

    (a) If the district director believes that the collection of any tax 
(other than income, estate, gift, chapter 41, 42, 43, or 44 tax) will be 
jeopardized by delay, the director shall, whether or not the time 
otherwise prescribed by law for filing the return or paying such tax has 
expired, immediately assess such tax, together with all interest, 
additional amounts and additions to the tax provided by law. A district 
director will make an assessment under this section if collection is 
determined to be in jeopardy because at least one of the conditions 
described in Sec. 1.6851-1(a)(1)(i), (ii), or (iii) (relating to 
termination assessments) exists. For example, assume that a taxpayer 
incurs on January 18, 1977, liability for tax imposed by section 4061, 
that the last day on which return and payment of such tax is required to 
be made is May 2, 1977, and that on January 18, 1977, the district 
director determines that collection of such tax would be jeopardized by 
delay. In such case, the district director shall immediately assess the 
tax.
    (b) The tax, interest, additional amounts, and additions to the tax 
will,

[[Page 465]]

upon assessment, become immediately due and payable, and the district 
director shall, without delay, issue a notice and demand for payment 
thereof in full. Upon failure or refusal to pay the amount demanded, 
collection thereof by levy shall be lawful without regard to the 10-day 
period provided in section 6331 (a). However, the collection of the 
whole or any part of the amount of the jeopardy assessment may be stayed 
by timely filing with the district director a bond as provided in 
section 6863.
    (c) See section 7429 with respect to requesting the district 
director to review the making of the jeopardy assessment.

[32 FR 15241, Nov. 3, 1967, as amended by T.D. 7575, 43 FR 58817, Dec. 
18, 1978; T.D. 7838, 47 FR 44253, Oct. 7, 1982]