|
r:
<br />4
<br />3
<br />9
<br />k
<br />a
<br />m
<br />s {
<br />a
<br />13 0
<br />Excerpts From Internal Revenue Code
<br />Sec. 6321. Lien For Taxes.
<br />H any person liable to pay any tax neglects or refuses to
<br />pay the same enter demand, the amount (Including any inter-
<br />act additional amount, addle on to tax, or assessable penafty,
<br />together wish any coat that may accrue In addfdan Memo)
<br />Mail he a Han In bvor of the United States upon all property
<br />and rigF,ta to pro", whether real or personal, belonging
<br />to such person.
<br />Sec. 6322. Period Of Lien.
<br />Unless ahether data Is spedfficelly fixed by law, the Hen
<br />Imposed by section M Melt arise at the time the assessment
<br />Is made and shell continua IoM the liability for the amount se
<br />assessed (or a judgment against the taxpayer arising out of
<br />such liability) is satisfied or becomes unenforceable by reason
<br />of byes of time.
<br />Sec. 6323. Validity and Priority Against
<br />Certain Persons.
<br />(a) Purchaser's, Holders Of Security in-
<br />ter+sb, MedMIC's Llenom, And Judgment
<br />Lien Creditors. — The fien imposed by section 021 shall
<br />fat be valid as against any purchaser, holder of a security
<br />InWK mechanics Ilenor, or judgment lien creditor until notice
<br />thereof which meets Me requirements of subsection if has
<br />been fiW by the Secretary.
<br />(n Place For Filing Notice; Form. —
<br />(1) Place For Filing - The notice referred to in s__-
<br />SOON (a) shall be filed -
<br />(A) Under State Laws
<br />(7 Real Property - In the case of real property, in one
<br />off" within the State (or the county, or other governmental
<br />subdivismit); as designated by the laws of such State, in
<br />which the Property subject to the lint is situated: and
<br />H7 Personal Property - in the case of personal
<br />Progeny. whether tangible or intangible, in one office
<br />within the State (or the county, or other govemmentai
<br />subdivision), as designated by the laws of such State.
<br />in which the property subject to the lien is situated:
<br />or
<br />(8) With Clerk Of District Court - in the office of the clerk of
<br />the United States district court for the judicial district in which
<br />the property subject to lien is situated, wt-ever the State has
<br />not by law designated one office which meets fine tequir —erts of
<br />subparagraph (A), or
<br />(C) With Recorder Of Deeds Of The District Of Cris ^n a - to
<br />the office of the Recorder of Deeds of Me District of Co,amb,a. cl
<br />the property subject to the lien is situated -e D
<br />Caiumbia
<br />L
<br />t,�
<br />F
<br />M
<br />O
<br />—1
<br />fit
<br />r
<br />Entered as Oocumeni No.
<br />87- 1 ;`l -7 ci
<br />e - 2]t!rt erica)
<br />c
<br />M Mae Of Property Suffield To been - For purposes of
<br />Paragraphs (1) and (Q, property shall be deemed to be situated -
<br />(A) Res( Property - In the cues of real property, at its
<br />grysiW location: or
<br />(B) PanmW properly - in the case of personal property,
<br />whether tangible or intangible, at the residence of the
<br />taxpayer at the time the notice M lien Is filed.
<br />For purposes of paragraph (Z) (B), the residence of a corporation
<br />or parblership shalt be deemed to be Me place at which the
<br />pf(Ripal executive office of the business h located, and the
<br />residence of a taxpayer whose residence is without the United
<br />States shelf be deemed to be in the District of Columbia.
<br />(3) Form - The .form and content M. the notice
<br />referred to in subsection (a) shall be prescribed by the
<br />- Seceetary. Such notice shag be valid notwithstanding any
<br />otbes provision of law regarding the form or Content of a
<br />notice of rid.
<br />Note: 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 />1. Severities
<br />2. Motorveldcles
<br />3. Personal property purchased at retail
<br />e. Personal property purchased in casual sale
<br />i PuswW property subjected to possessory lien
<br />S. Real property tax and special assessment liens
<br />7. Residential property subject to a mechanic's
<br />lien for certain repairs and improvements
<br />B Anandii Hart,
<br />2. Certain insurance contracts
<br />10 Passbook loans
<br />(g) Reffling Of Notice. — For purposes of this
<br />section -
<br />of Gen" Rule. — Unless notice of lien is refired in
<br />the manner prescribed in paragraph (2) during the required
<br />refiring period, such notice of rim shall be treated as filed on file
<br />date ortwhich it is filed (in accordance with subsection (fi) after
<br />the expiration of such refiling period.
<br />(n Place For Filing. — A notice of hen refired
<br />during the recd:red refiling penod Mall beeflecove only -
<br />IAt .+
<br />(r) Sccn notice of hen is refired in tree office in which the
<br />prior notice of lien was filed. and
<br />(it) in the case of real propecf. the fact of refiling is.
<br />entered and recorded in an oncex to the extent r quued by
<br />SubSeCbon M ix). and
<br />le; in any use in wb¢h, se ca ,,s or -ors cr, to the date
<br />of a rehimg of nonce of ien Onctr sceparag,ph (A). the
<br />a
<br />G'c J.
<br />C
<br />g�
<br />3
<br />z
<br />0
<br />Secretary rnsdved wHem IMOrmetim (In the member
<br />Prescribed in regulations Issued by Me Sacreuryj
<br />concerning a Mange In the taxpayer's resident H a notice
<br />of such Ibn Is Mu Bled In auordamaa with subsection (f) in
<br />the Stab In which such midenq is located.
<br />(3) Required Refilling Period. — in the cue
<br />of any notice of then, the term -required rafting period' means -
<br />(A) the one -year period ending 30 days after the expiration
<br />of a years after the date of the sesessment of the tax. and
<br />(8) the am-yearWait ending with the expinetionoffyeae
<br />star the Vase of the preceding required refiling period for
<br />such nonce at fan. -
<br />Sec. 6325. ; Release Of 'Lien Or
<br />Discharge of Property.
<br />(a) Release Of Lim — subject to such
<br />regulations as the Secretary may prescribe. the Secretary shall
<br />issue a certificate of release of any lien imposed with respect to
<br />any internal revenue tax not later than 30 days after the day an
<br />which -
<br />it) Liability Satisfied or thlenforceable - The Secretary
<br />finds that the liability for the amount assessed, together with all
<br />Interest in respect thereof. has been fully satisfied ar has
<br />become legally uronforceabie: or
<br />(2) Bond Accepted- There is furnished to the Secretary and
<br />accepted by him a bond that is conditioned upon the payment 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 accordance with such
<br />requirements relating to ti conditions, and form of the bond
<br />and sureties liberation. as may be specified by such regulatom
<br />Sec. 6103. Confidentiality and Dis-
<br />closure of Returns and Return In-
<br />formation.
<br />(k) Disclosure of Certain Returns and
<br />Return Information For Tax Administration
<br />PUrpoaes. — -
<br />(2) Disclosure ofamount of cutstarCmg hen - Ifanohceof
<br />lien has been filed pursuant to seaten tx�i Sit), the amount of the
<br />outstanding obl.gal,00 ,Es c, _ -, ,?:+.may be d.sclosed to
<br />any pefSOn wh. turris., sa:sfa:'cry t:en eesdence that tie
<br />has a right to the property subject to rich !ien or intends to
<br />obtain a right in such property
<br />-
<br />J
<br />
|