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<br />Excerpts From Inlemll Revenue Code
<br />'See, 6321. Lien For Taxes.
<br />
<br />" Iny person liable to pay any lax neglects or refuses to
<br />,.y the IIml after demand, the amount (Irn:luding any inter.
<br />tII, IddlUonal amount. addition to tax, or assessable penalty,
<br />toglthtr with Iny COSII that may accrue In addition thereto)
<br />lhall be I lien In fiver of thl United Slale, upon all property
<br />IIld rlghll to property, whither real or personal, belonging
<br />to luch person.
<br />
<br />Sec. 6322, Period Of Lien.
<br />
<br />, Units. Inother-dl" Is specifically fixed by law, the lien
<br />Impoled by section 6321 shall arlsl at the time the assessment
<br />Is made and shall continue until the liability for the amount so
<br />Iwsled (or a judgment against the taxpayer arising out of
<br />luch IIlblllty) I. satisfied or becomes unenlorceable by reason
<br />'If IIPH of time.
<br />
<br />See, 6323, Validity and Priority Against
<br />Certain Persons,
<br />(Ii PUrchlHr'l, Holders Of Security In-
<br />I_II, Mechlnlc'. Llenors, And Judgmenl
<br />LItn ertclltors. - The lien Imposed by mtion 6321 shall
<br />IIOt be vllld as Igalnsl any purchuer, holder of a security
<br />Int.r"~ mechanlc's lienor, or judgment lien creditor until notice
<br />thereof which meets tha requiremenls of subsection (I) has
<br />bHn flied by the Secretary.
<br />
<br />; (I) PIIce FM Filing Nollcej Fonn,-
<br />
<br />(t) Place For Filing - The notice referred to In sub-
<br />eaction (I) shall be filed .
<br />(A) Under Slale laws
<br />(I) Real Property - In the case of real property, in one
<br />office within the State (or the counly, or other governmental
<br />subdivision), as designated by the laws of such State, In
<br />which the property subjettto the lien Is situated; and
<br />(i1) Personal Property . In tha caso of personal
<br />property, whelher tangible or Inlanglbla, In one office
<br />within the State (or the county, or other governmental
<br />subdivision), as daslgnated by the laws of such State,
<br />In which the property SUbject to the lien Is situated;
<br />or
<br />(8) With Clerk at Oislrict Court -In the office of the clerk of
<br />thl Unltld SIlt.. district court for the judiCial district in which
<br />thl property subject to lien is situated, whenever the Slate has
<br />not by law dnlgnated one office which meets the requirements 01
<br />IUbperllrlph (A), or
<br />(C) Wilh Recorder at Deeds Of The District Of Columbia. In
<br />tha Iffice of the Recorder of Deeds of the District of Columbia, if
<br />~I IUlperty subjact to the lien is situated In the Districl of
<br />Colu.bfa.
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<br />Numerical ~-".!..
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<br />(21 Situs Of Property Subject To lien. For purposes of
<br />paragraphs (1) and (4), property shall be deemed 10 be situated.
<br />(A) Real Property . In the can ot real property, at III
<br />physical location; or
<br />(8) Personal Property. In lhe case of personal property,
<br />whether tangible or intangible, at the rasidence of the
<br />taxpayer at the time the notice of lien Is filed.
<br />For purposes 01 paragraph (2) (8). the residence of a corporation
<br />or partnership shall be deeme~ to be the pia", at which tJ..
<br />prirn:lpal executive office of the business Is located, and thl
<br />ras;dence of a taxpayer whose residence Is without the United
<br />Statu shall be deemed to be In the District of Columbia
<br />(3) Form - The form and content of the notice
<br />referred to In subsection (I) shall be prescribed by the
<br />Secrelary. Such notice shall be valid notwithstanding any
<br />other proviSion of law regarding the form or content of a
<br />notice of lien.
<br />
<br />Nole: See section 6323(b) for protection for
<br />certain interests even though notice of lien
<br />imposed by section 6321 is filed with respect
<br />to:
<br />
<br />1. Securities
<br />2. Motor vehicles
<br />3. Personal property purchased at retail
<br />4. Personal property purchased In casual sale
<br />5. Personal property subjecled to possessory lien
<br />6. Real property tax and speciallS5lssment liens
<br />7. Residential property subject to a mechanlc's
<br />lien for certain repairs and Improvements
<br />8. Attorney's liens
<br />9. Certain Insurance contracts
<br />10. Passbook loans
<br />
<br />(g) Reflllng Of Nollce. - For purposes of this
<br />section -
<br />
<br />(1) Generlll Rule, - Unless notice of lien is refiled In
<br />the manner prescribed in paragraph (2) during the required
<br />refiling periOd; such notice of lien shall be treated as filed on thl
<br />date on'whlch it is filed (in accordance with subsection (I)) aller
<br />the expiration of such reflling period.
<br />
<br />(2) PIIce For Filing, - A notice of lien reflled
<br />during the required reflling period shall be effective only.
<br />(A) if.
<br />(i) such nolice 01 lien is refiled In the office in which the
<br />prior nolice of lien was filed, and
<br />(il) in the case of real property, the lact of 'efiling is
<br />entered anct recorded in an index to the extent required by
<br />subseclion 10 (4), and
<br />(8) in any case in which. !IO days or more prior to the date
<br />ot a refiling of notice of lien under Subparagraph (A), the
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<br />Secretary received written Informltlon (In the mlnner
<br />prescribed In regulations Issued by the 5a<:reliry)
<br />concerning I chlnge In tha taxpayeflrelldence, If I notlCl
<br />of such Iten 1.1110 flied In accordance with lublletlon (Q In
<br />the SlIte In which such residence Is located,
<br />
<br />(3) Rtqulrtcl R.flHng P,riod. - In thl CUI
<br />of any notice of lien, the tllm "required reflllng period" mean. .
<br />(A) thl one-year period ending :II daYI Ifter the explrltlon
<br />01 6 years after the dlte of the asslument of the tax, and
<br />(8) tha one-year period andlng with the axplrltlon ofe yurs
<br />Ifter the CIOM of the preceding required rtllllng period for
<br />such notice of flen.
<br />
<br />Sec. 6325, Release Of lien Or
<br />Discharge Of Property,
<br />
<br />(a) ReIuH Of LItn. - Subject to such
<br />regulations as the Secrellry may premlbe, the SlCretary shill
<br />Issue a certificate of release of any lien Imposed with respect to
<br />any inlernal revenue tax not later than:ll dlY. Ifter the day on
<br />which.
<br />(1) liability Satlslled or Unenforceable . The Secretary
<br />finds that the liability lor the amount assessed, together with all
<br />Interest in respect thereot, has been fully Sltlsfled or has
<br />become legally unenforceable; or
<br />(2) Bond Accepted. There Is furnished to the Slcretlry Ind
<br />accepted by him a bond that Is conditioned upon the plyment of
<br />the amount assessed, together with all Interest In respect
<br />thereof, within the time prescribed by law (including any
<br />extension of such time), and that Is In accordarn:a with such
<br />requirements relating to terms, conditions, and form of the tiond
<br />and sureties thereon, as mlY be specified by such ragulltlons.
<br />
<br />See, 6103, Confidentiality and Dis.
<br />closure of Returns and Return In-
<br />formation,
<br />(k) DlIcIoIure of Certain R,turns and
<br />Relum Infonnlllon For Tu AdmlnlltrllUon
<br />PUI'pOlll. -
<br />
<br />(2) Disclosure of amount of outstanding lien.' If a notice of
<br />lien has been filed pursuant to section 6323(1), the amount of the
<br />outstanding Obligation secured by such lien may be disclosed to
<br />any person who turnlshes satlslactory wrltt.n evidence that he
<br />has a right in the property subject to such lien or inlends to
<br />obtain a right in such property.
<br />
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