[Code of Federal Regulations]
[Title 27, Volume 1]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR70.75]

[Page 991-992]
 
            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS
 
 CHAPTER I--BUREAU OF ALCOHOL, TOBACCO AND FIREARMS, DEPARTMENT OF THE 
                                TREASURY
 
PART 70--PROCEDURE AND ADMINISTRATION--Table of Contents
 
     Subpart D--Collection of Excise and Special (Occupational) Tax
 
Sec. 70.75  Jeopardy assessment of alcohol, tobacco, and firearms taxes.

    (a) If the appropriate ATF 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 ATF 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 ATF 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

[[Page 992]]

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 ATF officer shall, without delay, issue a notice and demand 
for payment thereof in full.
    (c) See 26 U.S.C. 7429 with respect to requesting the appropriate 
ATF officer to review the making of the jeopardy assessment.
    (d) For provisions relating to stay of collection of jeopardy 
assessments, see Sec. 70.76 of this part.

(26 U.S.C. 6862 and 6863)

[T.D. ATF-301, 55 FR 47612, Nov. 14, 1990, as amended by T.D. ATF-450, 
66 FR 29025, May 29, 2001]