27 CFR 70.75 - Jeopardy assessment of alcohol, tobacco, and firearms taxes.
(a) If the appropriate TTB officer believes that the collection of any tax imposed under provisions of 26 U.S.C. enforced and administered by the Bureau will be jeopardized by delay, the appropriate TTB officer must, 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. An appropriate TTB officer will make an assessment under this section if collection is determined to be in jeopardy because at least one of the following conditions exists.
(1) The taxpayer is or appears to be designing quickly to depart from the United States or to conceal himself or herself.
(2) The taxpayer is or appears to be designing quickly to place the taxpayer's property beyond the reach of the Government either by removing it from the United States, by concealing it, or by dissipating it, or by transferring it to other persons.
(3) The taxpayer's financial solvency is or appears to be threatened.
(b) The tax, interest, additional amounts, and additions to the tax will, upon assessment, become immediately due and payable, and the appropriate TTB officer shall, without delay, issue a notice and demand for payment thereof in full.
(d) For provisions relating to stay of collection of jeopardy assessments, see § 70.76 of this part.
Title 27 published on 13-Jun-2017 04:22
The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 27 CFR Part 70 after this date.