Stephen C. Loadholt Trust, Debra M. Lance Trustee, et al. - Page 6




                                         - 6 -                                          
          taxpayer’s reported liability with respect to income taxes,                   
          estate and gift taxes, and certain specified excise taxes, he                 
          generally cannot assess the tax until a statutorily prescribed                
          period of time (generally 90 days or, for taxpayers outside the               
          country, 150 days) after he has issued the taxpayer a notice of               
          deficiency.  See sec. 6213(a).  During this time, the taxpayer                
          may file a petition in the Tax Court, and the Commissioner                    
          generally may not assess or collect the tax until the Tax Court’s             
          decision has become final.  See id.                                           
               Once the Commissioner has assessed the tax, he may institute             
          administrative collection action.  Section 6321 provides that if              
          any person liable to pay any tax neglects or refuses to pay the               
          same after notice and demand, the amount shall be a lien in favor             
          of the United States upon all property and rights to property,                
          whether real or personal, belonging to that person.  Section 6323             
          generally requires the Commissioner to file a notice of Federal               
          tax lien with the appropriate State office or the local Federal               
          District Court.                                                               
               Section 6331(a) provides that if any person liable to pay                
          any tax neglects or refuses to pay such tax within 10 days after              
          notice and demand for payment, the Secretary is authorized to                 
          collect such tax by levy upon property belonging to the taxpayer.             
          Under section 6331(d) the Secretary must provide the taxpayer                 








Page:  Previous  1  2  3  4  5  6  7  8  9  10  Next

Last modified: May 25, 2011