[Code of Federal Regulations]
[Title 27, Volume 2]
[Revised as of April 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR70.77]

[Page 245-246]
 
            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS
 
 CHAPTER I--ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE 
                                TREASURY
 
PART 70_PROCEDURE AND ADMINISTRATION--Table of Contents
 
      Subpart D_Collection of Excise and Special (Occupational) Tax
 
Sec.  70.77  Collection of jeopardy assessment; stay of sale of seized 

property pending court decision.

    (a) General rule. In the case of an assessment under 26 U.S.C. 6862, 
and property seized for the collection of such assessment shall not 
(except as provided in paragraph (b) of this section) be sold until the 
latest of the following occurs:
    (1) The period provided in 26 U.S.C. 7429(a)(2) to request the 
appropriate TTB officer to review the action taken expires.
    (2) The period provided in 26 U.S.C. 7429(b)(1) to file an action in 
U.S. District Court expires if a request for redetermination is made to 
the appropriate TTB officer.
    (3) The U.S. District Court judgment in such action becomes final, 
if a civil action is begun in accordance with 26 U.S.C. 7429(b).
    (b) Exceptions. Notwithstanding the provisions of paragraph (a) of 
this section, any property seized may be sold:
    (1) If the taxpayer files with the appropriate TTB officer a written 
consent to the sale, or
    (2) If the appropriate TTB officer determines that the expenses of 
conservation and maintenance of the property will greatly reduce the net 
proceeds from the sale of such property, or

[[Page 246]]

    (3) If the property is of a type to which 26 U.S.C. 6336 (relating 
to sale of perishable goods) is applicable.

(26 U.S.C. 6863)

[T.D. ATF-301, 55 FR 47613, Nov. 14, 1990, as amended by T.D. ATF-353, 
59 FR 2522, Jan. 18, 1994]

                            Notice and Demand