a deficiency upon the date pre a deficiency upon the date pre- Sec. 871. (i) 50 per cent addition treated as deficiency. The 50 per centum addition to the tax provided by section 3612 (d) (2) shall, when assessed in connection with an estate tax, be assessed, collected, and paid in the same manner as if it were a deficiency, except that the provisions of section 891 shall not be applicable. Sec. 872. Jeopardy assessments. Sec. 872. (a) Authority for making. If the Commissioner believes that the assessment or collection of a deficiency will be jeopardized by delay, he shall immediately assess such deficiency (together with all interest, additional amounts, or additions to the tax provided for by law) and notice and demand shall be made by the collector for the payment thereof. Sec. 872. (b) Deficiency letters. -If the jeopardy assessment is made before any notice in respect of the tax to which the jeopardy assessment relates has been mailed under section 871 (a), then the Commissioner shall mail a notice under such subsection within 60 days after the making of the assessment. sion. Sec. 871. (i) 50 per cent addition treated as deficiency. The 50 per centum addition to the tax provided by section 3612 (d) (2) shall, when assessed in connection with an estate tax, be assessed, collected, and paid in the same manner as if it were a deficiency, except that the provisions of section 891 shall not be applicable. Sec. 872. Jeopardy assessments. Sec. 872. (a) Authority for making.-If the Commissioner believes that the assessment or collection of a deficiency will be jeopardized by delay, he shall immediately assess such deficiency (together with all interest, additional amounts, or additions to the tax provided for by law) and notice and demand shall be made by the collector for the payment thereof. Sec. 872. (b) Deficiency letters. If the jeopardy assessment is made before any notice in respect of the tax to which the jeopardy assessment relates has been mailed under section 871 (a), then the Commissioner shall mail a notice under such subsection within 60 days after the making of the assessment. Estates of Decedents Dying on or before Feb. 10, 1939 Sec. 308. (j). See p. 519, Eighth Edition. Sec. 312. (a). See p. 521, Eighth Edition. Sec. 312. (b). See p. 521, Eighth Edition. Estates of Decedents Estates of Decedents Estates of Decedents Sec. 872. (c) Amount assessable Sec. 872. (c) Amount assessable Sec. 872. (c) Amount assessable before decision of Board. The before decision of Board.-The before decision of Board.—The jeopardy assessment may be made jeopardy assessment may be made jeopardy assessment may be made in respect of a deficiency greater or in respect of a deficiency greater or in respect of a deficiency greater or less than that notice of which has less than that notice of which has less than that notice of which has been mailed to the executor, despite been mailed to the executor, despite been mailed to the executor, despite the provisions of section 871 (f) the provisions of section 871 (f) the provisions of section 871 (f) and whether or not the executor has and whether or not the executor has and whether or not the executor has theretofore filed a petition with the theretofore filed a petition with the theretofore filed a petition with the Board of Tax Appeals. The Com- Board of Tax Appeals. The Com- Board of Tax Appeals. The Commissioner may, at any time before missioner may, at any time before missioner may, at any time before the decision of the Board is ren- the decision of the Board is ren- the decision of the Board is rendered, abate such assessment, or dered, abate such assessment, or dered, abate such assessment, or any unpaid portion thereof, to the any unpaid portion thereof, to the any unpaid portion thereof, to the extent that he believes the assess- extent that he believes the assess- extent that he believes the assessment to be excessive in amount. ment to be excessive in amount. ment to be excessive in amount. The Commissioner shall notify the The Commissioner shall notify the The Commissioner shall notify the Board of the amount of such assess- Board of the amount of such assess- Board of the amount of such assessment, or abatement, if the petition ment, or abatement, if the petition ment, or abatement, if the petition is filed with the Board before the is filed with the Board before the is filed with the Board before the making of the assessment or is sub-making of the assessment or is sub-making of the assessment or is subsequently filed, and the Board shall sequently filed, and the Board shall sequently filed, and the Board shall have jurisdiction to redetermine the have jurisdiction to redetermine the entire amount of the deficiency and entire amount of the deficiency and of all amounts assessed at the same of all amounts assessed at the same time in connection therewith. time in connection therewith. Sec. 872. (d) Amount assessable after decision of Board.-If the jeopardy assessment is made after the decision of the Board is rendered such assessment may be made only in respect of the deficiency determined by the Board in its decision. Sec. 872. (e) Expiration of right to assess. A jeopardy assessment may not be made after the decision of the Board has become final or after the executor has filed a petition for review of the decision of the Board. Sec. 872. (d) Amount assessable after decision of Board.-If the jeopardy assessment is made after the decision of the Board is rendered such assessment may be made only in respect of the deficiency determined by the Board in its decision. Sec. 872. (e) Expiration of right to assess.-A jeopardy assessment may not be made after the decision of the Board has become final or after the executor has filed a petition for review of the decision of the Board. have jurisdiction to redetermine the entire amount of the deficiency and of all amounts assessed at the same time in connection therewith. Sec. 872. (d) Amount assessable after decision of Board. If the jeopardy assessment is made after the decision of the Board is rendered such assessment may be made only in respect of the deficiency determined by the Board in its decision. Sec. 872. (e) Expiration of right to assess.-A jeopardy assessment may not be made after the decision of the Board has become final or after the executor has filed a petition for review of the decision of the Board. Sec. 872. (f) Bond to stay collec- Sec. 872. (f) Bond to stay collec- Sec. 872. (f) Bond to stay collection. When a jeopardy assessment tion.-When a jeopardy assessment tion.-When a jeopardy assessment has been made the executor, within has been made the executor, within has been made the executor, within 30 days after notice and demand 30 days after notice and demand 30 days after notice and demand from the collector for the payment from the collector for the payment from the collector for the payment of the amount of the assessment, of the amount of the assessment, of the amount of the assessment, may obtain a stay of collection of may obtain a stay of collection of may obtain a stay of collection of the whole or any part of the the whole or any part of the the whole or amount of the assessment by filing with the collector a bond in such amount, not exceeding double the amount as to which the stay is desired, and with such sureties, as the collector deems necessary, conditioned upon the payment of so much of the amount, the collection of which is stayed by the bond, as is not abated by a decision of the Board which has become final, together with interest thereon as provided in section 892 or 893 (b) any part of the amount of the assessment by filing amount of the assessment by filing with the collector a bond in such with the collector a bond in such amount, not exceeding double the amount, not exceeding double the amount as to which the stay is de- amount as to which the stay is desired, and with such sureties, as the sired, and with such sureties, as the collector deems necessary, condi- collector deems necessary, conditioned upon the payment of so tioned upon the payment of so much of the amount, the collection much of the amount, the collection of which is stayed by the bond, as of which is stayed by the bond, as is not abated by a decision of the is not abated by a decision of the Board which has become final; to- Board which has become final, together with interest thereon as pro-gether with interest thereon as provided in section 892 or 893 (b) vided in section 892 or 893 (b) Sec. 872. (c) Amount assessable Sec. 872. (c) Amount assessable before decision of Board. The before decision of Board.-The jeopardy assessment may be made jeopardy assessment may be made in respect of a deficiency greater or in respect of a deficiency greater or less than that notice of which has less than that notice of which has been mailed to the executor, despite been mailed to the executor, despite the provisions of section 871 (f) the provisions of section 871 (f) and whether or not the executor has and whether or not the executor has theretofore filed a petition with the theretofore filed a petition with the Board of Tax Appeals. The Com- Board of Tax Appeals. The Commissioner may, at any time before missioner may, at any time before the decision of the Board is ren- the decision of the Board is rendered, abate such assessment, or dered, abate such assessment, or any unpaid portion thereof, to the any unpaid portion thereof, to the extent that he believes the assess- extent that he believes the assessment to be excessive in amount. ment to be excessive in amount. The Commissioner shall notify the The Commissioner shall notify the Board of the amount of such assess- Board of the amount of such assessment, or abatement, if the petition ment, or abatement, if the petition is filed with the Board before the is filed with the Board before the making of the assessment or is sub-making of the assessment or is subsequently filed, and the Board shall have jurisdiction to redetermine the entire amount of the deficiency and of all amounts assessed at the same time in connection therewith. Sec. 872. (d) Amount assessable after decision of Board.-If the jeopardy assessment is made after the decision of the Board is rendered such assessment may be made only in respect of the deficiency determined by the Board in its de cision. Sec. 872. (e) Expiration of right to assess. A jeopardy assessment may not be made after the decision of the Board has become final or after the executor has filed a petition for review of the decision of the Board. sequently filed, and the Board shall Sec. 872. (d) Amount assessable after decision of Board.-If the jeopardy assessment is made after the decision of the Board is rendered such assessment may be made only in respect of the deficiency determined by the Board in its decision. Sec. 872. (e) Expiration of right to assess.-A jeopardy assessment may not be made after the decision of the Board has become final or after the executor has filed a petition for review of the decision of the Board. Sec. 872. (f) Bond to stay collec- Sec. 872. (f) Bond to stay collection. When a jeopardy assessment tion.-When a jeopardy assessment has been made the executor, within has been made the executor, within 30 days after notice and demand 30 days after notice and demand from the collector for the payment from the collector for the payment of the amount of the assessment, of the amount of the assessment, may obtain a stay of collection of may obtain a stay of collection of the whole or any part of the the whole or any part of the amount of the assessment by filing amount of the assessment by filing with the collector a bond in such with the collector a bond in such amount, not exceeding double the amount, not exceeding double the amount as to which the stay is de- amount as to which the stay is desired, and with such sureties, as the sired, and with such sureties, as the collector deems necessary, condi- collector deems necessary, conditioned upon the payment of so tioned upon the payment of so much of the amount, the collection much of the amount, the collection of which is stayed by the bond, as of which is stayed by the bond, as is not abated by a decision of the is not abated by a decision of the Board which has become final, to- Board which has become final, together with interest thereon as pro-gether with interest thereon as provided in section 892 or 893 (b) vided in section 892 or 893 (b) Estates of Decedents Dying on or before Feb. 10, 1939 Sec. 312. (c). See p. 521, Eighth Edition. Sec. 312. (d). See p. 522, Eighth Edition. Sec. 312. (e). See p. 522, Eighth Edition. Sec. 312. (f). See p. 522, Eighth Edition. Estates of Decedents (4). If any portion of the jeopardy assessment is abated by the Commissioner before the decision of the Board is rendered, the bond shall, at the request of the taxpayer, be proportionately reduced. (4). If any portion of the jeop- (4). If any portion of the jeopardy assessment is abated by the ardy assessment is abated by the Commissioner before the decision Commissioner before the decision of the Board is rendered, the bond of the Board is rendered, the bond shall, at the request of the tax- shall, at the request of the taxpayer, be proportionately reduced. payer, be proportionately reduced. Sec. 872. (g) Same-Further Sec. 872. (g) Same-Further Sec. 872. (g) Same-Further conditions. If the bond is given before the executor has filed his petition with the Board under subsection (a) of section 871, the bond shall contain a further condition that if a petition is not filed within the period provided in such subsection, then the amount the collection of which is stayed by the bond will be paid on notice and demand at any time after the expiration of such period, together with interest thereon at the rate of 6 per centum per annum from the date of the jeopardy notice and demand to the date of notice and demand under this subsection. conditions.-If the bond is given conditions.-If the bond is given Sec. 872. (h) Waiver of stay.— Sec. 872. (h) Waiver of stay.- Sec. 872. (h) Waiver of stay.Upon the filing of the bond the col- Upon the filing of the bond the col- Upon the filing of the bond the collection of so much of the amount lection of so much of the amount lection of so much of the amount assessed as is covered by the bond assessed as is covered by the bond assessed as is covered by the bond shall be stayed. The executor shall shall be stayed. The executor shall shall be stayed. The executor shall have the right to waive such stay have the right to waive such stay have the right to waive such stay at any time in respect of the whole at any time in respect of the whole at any time in respect of the whole or any part of the amount covered or any part of the amount covered or any part of the amount covered by the bond, and if as a result of by the bond, and if as a result of by the bond, and if as a result of such waiver any part of the amount such waiver any part of the amount such waiver any part of the amount covered by the bond is paid, then covered by the bond is paid, then covered by the bond is paid, then the bond shall, at the request of the the bond shall, at the request of the the bond shall, at the request of the executor, be proportionately re- executor, be proportionately re-executor, be proportionately reduced. If the Board determines duced. If the Board determines duced. If the Board determines that the amount assessed is greater that the amount assessed is greater that the amount assessed is greater than the amount which should have than the amount which should have than the amount which should have been assessed, then when the deci- been assessed, then when the deci- been assessed, then when the deci sion of the Board is rendered the sion of the Board is rendered the sion of the Board is rendered the bond shall, at the request of the bond shall, at the request of the bond shall, at the request of the executor, be proportionately proportionately re- executor, be proportionately re- executor, be proportionately re duced. duced. duced. Sec. 872. (i) Collections of unpaid amounts.-When the petition has been filed with the Board and when the amount which should have been assessed has been determined by a decision of the Board which Sec., 872. (i) Collections of un- Sec. 872. (i) Collections of unpaid amounts.-When the petition paid amounts.-When the petition has been filed with the Board and has been filed with the Board and when the amount which should have when the amount which should have been assessed has been determined been assessed has been determined by a decision of the Board which by a decision of the Board which has become final, then any unpaid has become final, then any unpaid has become final, then any unpaid portion, the collection of which has portion, the collection of which has portion, the collection of which has been stayed by the bond, shall be been stayed by the bond, shall be been stayed by the bond, shall be collected as part of the tax upon collected as part of the tax upon collected as part of the tax upon notice and demand from the collec- notice and demand from the collec- notice and demand from the collector, and any remaining portion of tor, and any remaining portion of tor, and any remaining portion of ⚫ the assessment shall be abated. If the assessment shall be abated. If the assessment shall be abated. If the amount already collected ex- the amount already collected ex- the amount already collected exceeds the amount determined as the ceeds the amount determined as the ceeds the amount determined as the amount which should have been as- amount which should have been as- amount which should have been assessed, such excess shall be re- sessed, such excess shall be re-sessed, such excess shall be re Estates of Decedents Dying during 1940 (4). If any portion of the jeopardy assessment is abated by the Commissioner before the decision of the Board is rendered, the bond shall, at the request of the taxpayer, be proportionately reduced. Sec. 872. (g) Same-Further conditions. If the bond is given before the executor has filed his petition with the Board under subsection (a) of section 871, the bond shall contain a further condition that if a petition is not filed within the period provided in such subsection, then the amount the collection of which is stayed by the bond will be paid on notice and demand at any time after the expiration of such period, together with interest thereon at the rate of 6 per centum per annum from the date of the jeopardy notice and demand to the date of notice and demand under this subsection. (4). Estates of Decedents If any portion of the jeopardy assessment is abated by the Commissioner before the decision of the Board is rendered, the bond shall, at the request of the taxpayer, be proportionately reduced. Sec. 872. (g) Same-Further conditions. If the bond is given before the executor has filed his petition with the Board under subsection (a) of section 871, the bond shall contain a further condition that if a petition is not filed within the period provided in such subsection, then the amount the collection of which is stayed by the bond will be paid on notice and demand at any time after the expiration of such period, together with interest thereon at the rate of 6 per centum per annum from the date of the jeopardy notice and demand to the date of notice and demand under this subsection. Sec. 872. (h) Waiver of stay.- Sec. 872. (h) Waiver of stay.Upon the filing of the bond the col- Upon the filing of the bond the collection of so much of the amount lection of so much of the amount assessed as is covered by the bond assessed as is covered by the bond shall be stayed. The executor shall shall be stayed. The executor shall have the right to waive such stay have the right to waive such stay at any time in respect of the whole at any time in respect of the whole or any part of the amount covered or any part of the amount covered by the bond, and if as a result of by the bond, and if as a result of such waiver any part of the amount such waiver any part of the amount covered by the bond is paid, then covered by the bond is paid, then the bond shall, at the request of the the bond shall, at the request of the executor, be proportionately re- executor, be proportionately reduced. If the Board determines duced. If the Board determines that the amount assessed is greater that the amount assessed is greater than the amount which should have than the amount which should have been assessed, then when the deci- been assessed, then when the decision of the Board is rendered the sion of the Board is rendered the bond shall, at the request of the bond shall, at the request of the executor, be proportionately re- executor, be proportionately reduced. duced. Sec. 872. (i) Collections of un- Sec. 872. (i) Collection of unpaid amounts. When the petition paid amounts.-When the petition has been filed with the Board and has been filed with the Board and when the amount which should have when the amount which should have been assessed has been determined been assessed has been determined by a decision of the Board which by a decision of the Board which has become final, then any unpaid has become final, then any unpaid portion, the collection of which has portion, the collection of which has been stayed by the bond, shall be been stayed by the bond, shall be collected as part of the tax upon collected as part of the tax upon notice and demand from the collec- notice and demand from the collector, and any remaining portion of tor, and any remaining portion of the assessment shall be abated. If the assessment shall be abated. If the amount already collected ex- the amount already collected exceeds the amount determined as the ceeds the amount determined as the amount which should have been as- amount which should have been assessed, such excess shall be re-sessed, such excess shall be re Estates of Decedents Dying on or before Feb. 10, 1939 Sec. 312. (g). See p. 523, Eighth Edition. Sec. 312. (h). See p. 523, Eighth Edition. Sec. 312. (i). See p. 523, Eighth Edition. |