Reg. § 301.6863-2 Collection of jeopardy assessment; stay of sale of seized property pending Tax Court decision.
(a) General rule In the case of an assessment under section , , , or , any property seized for the collection of such assessment shall not (except as provided in of this section) be sold until the latest of the following occurs:
(1) The period provided in section to request the district director to review the action taken expires.
(2) The period provided in section to file an action in U.S. District Court expires if a request for a redetermination is made to the district director.
(3) The U.S. District Court judgment in such action becomes final, if a civil action is begun in accordance with section .
(4) In addition to the occurrences described in , , , and of this section, in the case of an assessment of income, estate, gift, chapter 41, 42, 43, or 44 excise taxes, until the latest of the following occurs:
(i) The expiration of the period provided in section within which the taxpayer may file a petition with the Tax Court; or
(ii) The decision of the Tax Court becomes final, if a petition for redetermination is filed with the Tax Court (whether before or after the making of the assessment).
However, notwithstanding of this section, in the case of a termination assessment under section , property seized may be sold after the due date (determined with extensions) of the taxpayer's return if the taxpayer does not file a return by such date. Furthermore, for the purposes of of this section, a petition will not operate as a further stay of the sale of the seized property unless the taxpayer files a bond as provided in section .
(b) Exceptions Notwithstanding the provisions of of this section, any property seized may be sold—
(1) If the taxpayer files with the district director a written consent to the sale, or
(2) If the district director determines that the expenses of conservation and maintenance of the property will greatly reduce the net proceeds from the sale of such property, or
(3) If the property is of a type to which section (relating to sale of perishable goods) is applicable.
[32 FR 15241, Nov. 3, 1967, as amended by T.D. 7575, 43 FR 58817, Dec. 18, 1978; T.D. 8628, 60 FR 62213, Dec. 5, 1995]