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26 U.S.C. § 7485 — Bond to stay assessment and collection
Federal law — U.S. Code and appendices · legal_authorities
**(a) Upon notice of appeal** Notwithstanding any provision of law imposing restrictions on the assessment and collection of deficiencies, the review under section 7483 shall not operate as a stay of assessment or collection of any portion of the amount of the deficiency determined by the Tax Court unless a notice of appeal in respect of such portion is duly filed by the taxpayer, and then only if the taxpayer—
(1) on or before the time his notice of appeal is filed has filed with the Tax Court a bond in a sum fixed by the Tax Court not exceeding double the amount of the portion of the deficiency in respect of which the notice of appeal is filed, and with surety approved by the Tax Court, conditioned upon the payment of the deficiency as finally determined, together with any interest, additional amounts, or additions to the tax provided for by law, or
(2) has filed a jeopardy bond under the income or estate tax laws.
If as a result of a waiver of the restrictions on the assessment and collection of a deficiency any part of the amount determined by the Tax Court is paid after the filing of the appeal bond, such bond shall, at the request of the taxpayer, be proportionately reduced.
**(b) Bond in case of appeal of certain partnership-related decisions** The condition of subsection (a) shall be satisfied if the partnership duly files notice of appeal from a decision under section 6234 and on or before the time the notice of appeal is filed with the Tax Court, a bond in an amount fixed by the Tax Court is filed, and with surety approved by the Tax Court, conditioned upon the payment of deficiencies attributable to the partnership-related items (as defined in section 6241) to which that decision relates as finally determined, together with any interest, penalties, additio
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Source file: Laws/federal/codes/united-states-code/title-26/section-7485-bond-to-stay-assessment-and-collection--39f3abd478.md
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Source location: Title 26, Chapter 76, § 7485; chapter-076-judicial-proceedings.md
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**(a) Upon notice of appeal** Notwithstanding any provision of law imposing restrictions on the assessment and collection of deficiencies, the review under section 7483 shall not operate as a stay of assessment or collection of any portion of the amount of the deficiency determined by the Tax Court unless a notice of appeal in respect of such portion is duly filed by the taxpayer, and then only if the taxpayer—
(1) on or before the time his notice of appeal is filed has filed with the Tax Court a bond in a sum fixed by the Tax Court not exceeding double the amount of the portion of the deficiency in respect of which the notice of appeal is filed, and with surety approved by the Tax Court, conditioned upon the payment of the deficiency as finally determined, together with any interest, additional amounts, or additions to the tax provided for by law, or
(2) has filed a jeopardy bond under the income or estate tax laws.
If as a result of a waiver of the restrictions on the assessment and collection of a deficiency any part of the amount determined by the Tax Court is paid after the filing of the appeal bond, such bond shall, at the request of the taxpayer, be proportionately reduced.
**(b) Bond in case of appeal of certain partnership-related decisions** The condition of subsection (a) shall be satisfied if the partnership duly files notice of appeal from a decision under section 6234 and on or before the time the notice of appeal is filed with the Tax Court, a bond in an amount fixed by the Tax Court is filed, and with surety approved by the Tax Court, conditioned upon the payment of deficiencies attributable to the partnership-related items (as defined in section 6241) to which that decision relates as finally determined, together with any interest, penalties, additional amounts, or additions to the tax provided by law. Unless otherwise stipulated by the parties, the amount fixed by the Tax Court shall be based upon its estimate of the aggregate liability of the parties to the action.
**(c) Cross references**
(1) For requirement of additional security notwithstanding this section, see section 7482(c)(3).
(2) For deposit of United States bonds or notes in lieu of sureties, see [section 9303 of title 31](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section9303&num=0&edition=prelim), United States Code.
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** If a person is required under a law of the United States to give a surety bond, the person may give an eligible obligation as security instead of a surety bond. The obligation shall—
(1) be given to the official having authority to approve the surety bond;
(2) as determined by the Secretary of the Treasury, have a market value that is equal to or greater than the amount of the required surety bond; and
(3) authorize the official receiving the obligation to collect or sell the obligation if the person defaults on a required condition.
**(b)**
(1) An official receiving an eligible obligation under subsection (a) of this section may deposit it with—
(A) the Secretary of the Treasury;
(B) a Federal reserve bank; or
(C) a depositary designated by the Secretary.
(2) The Secretary, bank, or depositary shall issue a receipt that describes the obligation deposited.
**(c)** Using an eligible obligation instead of a surety bond for security is the same as using—
(1) a personal or corporate surety bond;
(2) a certified check;
(3) a bank draft;
(4) a post office money order; or
(5) cash.
**(d)** When security is no longer required, an eligible obligation given instead of a surety bond shall be returned to the person giving the obligation. If a person, supplying labor or material to a contractor defaulting under sections 3131 and 3133 of title 40, files with the United States Government the application and affidavit provided under [section 3133(a) of title 40](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title40-section3133/a&num=0&edition=prelim), the Government—
(1) may return to the contractor the eligible obligation given as security (or proceeds of the eligible obligation given) under sections 3131 and 3133 of title 40 only after th
Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 9303
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** In determining his income tax, each partner shall take into account separately his distributive share of the partnership’s—
(1) gains and losses from sales or exchanges of capital assets held for not more than 1 year,
(2) gains and losses from sales or exchanges of capital assets held for more than 1 year,
(3) gains and losses from sales or exchanges of property described in section 1231 (relating to certain property used in a trade or business and involuntary conversions),
(4) charitable contributions (as defined in section 170(c)),
(5) dividends with respect to which section 1(h)(11) or part VIII of subchapter B applies,
(6) taxes, described in section 901, paid or accrued to foreign countries and to possessions of the United States,
(7) other items of income, gain, loss, deduction, or credit, to the extent provided by regulations prescribed by the Secretary, and
(8) taxable income or loss, exclusive of items requiring separate computation under other paragraphs of this subsection.
**(b) Character of items constituting distributive share** The character of any item of income, gain, loss, deduction, or credit included in a partner’s distributive share under paragraphs (1) through (7) of subsection (a) shall be determined as if such item were realized directly from the source from which realized by the partnership, or incurred in the same manner as incurred by the partnership.
**(c) Gross income of a partner** In any case where it is necessary to determine the gross income of a partner for purposes of this title, such amount shall include his distributive share of the gross income of the partnership.
**(d) Cross reference** For rules relating to procedures for determining the tax treatment of partnership items see subchapter C of chapter
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 702
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** Any adjustment to a partnership-related item shall be determined, and any tax attributable thereto shall be assessed and collected, and the applicability of any penalty, addition to tax, or additional amount which relates to an adjustment to any such item shall be determined, at the partnership level, except to the extent otherwise provided in this subchapter.
**(b) Election out for certain partnerships with 100 or fewer partners, etc.**
(1) **In general** — This subchapter shall not apply with respect to any partnership for any taxable year if—
(A) the partnership elects the application of this subsection for such taxable year,
(B) for such taxable year the partnership is required to furnish 100 or fewer statements under section 6031(b) with respect to its partners,
(C) each of the partners of such partnership is an individual, a C corporation, any foreign entity that would be treated as a C corporation were it domestic, an S corporation, or an estate of a deceased partner,
(D) the election—
(i) is made with a timely filed return for such taxable year, and
(ii) includes (in the manner prescribed by the Secretary) a disclosure of the name and taxpayer identification number of each partner of such partnership, and
(E) the partnership notifies each such partner of such election in the manner prescribed by the Secretary.
(2) **Special rules relating to certain partners**
(A) *S corporation partners* — In the case of a partner that is an S corporation—
(i) the partnership shall only be treated as meeting the requirements of paragraph (1)(C) with respect to such partner if such partnership includes (in the manner prescribed by the Secretary) a disclosure of the name and taxpayer identification number of each person with
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 6221
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** When required by regulations prescribed by the Secretary any person made liable for any tax imposed by this title, or with respect to the collection thereof, shall make a return or statement according to the forms and regulations prescribed by the Secretary. Every person required to make a return or statement shall include therein the information required by such forms or regulations.
**(b) Identification of taxpayer** The Secretary is authorized to require such information with respect to persons subject to the taxes imposed by chapter 21 or chapter 24 as is necessary or helpful in securing proper identification of such persons.
**(c) Returns, etc., of DISCS and former DISCS and former FSC’s**
(1) **Records and information** — A DISC, former DISC, or former FSC (as defined in section 922 as in effect before its repeal by the FSC Repeal and Extraterritorial Income Exclusion Act of 2000) shall for the taxable year—
(A) furnish such information to persons who were shareholders at any time during such taxable year, and to the Secretary, and
(B) keep such records, as may be required by regulations prescribed by the Secretary.
(2) **Returns** — A DISC shall file for the taxable year such returns as may be prescribed by the Secretary by forms or regulations.
**(d) Authority to require information concerning section 912 allowances** The Secretary may by regulations require any individual who receives allowances which are excluded from gross income under section 912 for any taxable year to include on his return of the taxes imposed by subtitle A for such taxable year such information with respect to the amount and type of such allowances as the Secretary determines to be appropriate.
**(e) Regulations requiring returns on magnetic media, etc.**
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 6011
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Federal law — U.S. Code and appendices · legal_authorities
Review of a decision of the Tax Court shall be obtained by filing a notice of appeal with the clerk of the Tax Court within 90 days after the decision of the Tax Court is entered. If a timely notice of appeal is filed by one party, any other party may take an appeal by filing a notice of appeal within 120 days after the decision of the Tax Court is entered.
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 7483
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** Every partnership (as defined in section 761(a)) shall make a return for each taxable year, stating specifically the items of its gross income and the deductions allowable by subtitle A, and such other information, for the purpose of carrying out the provisions of subtitle A as the Secretary may by forms and regulations prescribe, and shall include in the return the names and addresses of the individuals who would be entitled to share in the taxable income if distributed and the amount of the distributive share of each individual.
**(b) Copies to partners** Each partnership required to file a return under subsection (a) for any partnership taxable year shall (on or before the day on which the return for such taxable year was required to be filed) furnish to each person who is a partner or who holds an interest in such partnership as a nominee for another person at any time during such taxable year a copy of such information required to be shown on such return as may be required by regulations. Information required to be furnished by the partnership under this subsection may not be amended after the due date of the return under subsection (a) to which such information relates, except—
(1) in the case of a partnership which has elected the application of section 6221(b) for the taxable year,
(2) as provided in the procedures under section 6225(c),
(3) with respect to statements under section 6226, or
(4) as otherwise provided by the Secretary.
**(c) Nominee reporting** Any person who holds an interest in a partnership as a nominee for another person—
(1) shall furnish to the partnership, in the manner prescribed by the Secretary, the name and address of such other person, and any other information for such taxable year as the Secretary may by f
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 6031
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Federal law — U.S. Code and appendices · legal_authorities
Page 3938
TITLE 26—INTERNAL REVENUE CODE
§ 7483
EFFECTIVE DATE OF 1969 AMENDMENT
Amendment by Pub. L. 91–172 effective 30 days after
Dec. 30, 1969, see section 962(f) of Pub. L. 91–172, set out
as a note under section 7483 of this title.
EFFECTIVE DATE OF 1966 AMENDMENT
Amendment by Pub. L. 89–713 applicable to all deci-
sions of the Tax Court entered after Nov. 2, 1966, see
section 3(d) of Pub. L. 89–713, set out as a note under
section 7422 of this title.
§ 7483. Notice of appeal
Review of a decision of the Tax Court shall be
obtained by filing a notice of appeal with the
clerk of the Tax Court within 90 days after the
decision of the Tax Court is entered. If a timely
notice of appeal is filed by one party, any other
party may take an appeal by filing a notice of
appeal within 120 days after the decision of the
Tax Court is entered.
(Aug. 16, 1954, ch. 736, 68A Stat. 891; Pub. L.
91–172, title IX, § 959(a), Dec. 30, 1969, 83 Stat.
734.)
Editorial Notes
AMENDMENTS
1969—Pub. L. 91–172 substituted references to notice
of appeal for references to petition for review, and oth-
erwise generally altered the section as to time for ap-
peal and terminology in order to conform section to the
form of the Federal Rules of Appellate Procedure.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1969 AMENDMENT
Pub. L. 91–172, title IX, § 962(f), Dec. 30, 1969, 83 Stat.
736, as amended by Pub. L. 99–514, § 2, Oct. 22, 1986, 100
Stat. 2095, provided that: ‘‘The amendments made by
sections 959 and 960(h) [amending this section and sec-
tions 7481, 7482, and 7485 of this title] shall take effect
30 days after the date of the enactment of this Act
[Dec. 30, 1969]. In the case of any decision of the Tax
Court entered before the 30th day after the dat
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 7485
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