- 31 -
sec. 5.10.4.1.1(2), which provides that the sale of seized
property will generally be suspended during the administrative
review process provided in section 7429.
Within 5 days after a jeopardy assessment is made under
section 6861 or a jeopardy levy is made under section 6331(a),
the Commissioner must provide the taxpayer a written statement of
the information upon which the Commissioner relied in making the
assessment or levy. Sec. 7429(a)(1)(B). Within 30 days after
the taxpayer is furnished this written statement, or within 30
days after the last day of the period within which such statement
is required to be furnished, the taxpayer may request the
Commissioner to review the action taken. Sec. 7429(a)(2). After
a request for review is made, the Commissioner must make a
determination whether the jeopardy assessment or jeopardy levy is
reasonable under the circumstances and whether the amount
assessed is appropriate. Sec. 7429(a)(3).
On June 1, 2000, respondent issued to petitioners a notice
of jeopardy levy and right of appeal under section 7429(a)(1).
Petitioners then had 30 days within which to make a request for
administrative review under section 7429(a)(2). They made no
such request. Instead, petitioners submitted a Form 12153,
Request for a Collection Due Process Hearing, under section 6330.
Under these circumstances, a sale of the seized stock accounts
was stayed by section 6863(c) only for the 30-day period that
Page: Previous 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 NextLast modified: May 25, 2011