26 U.S.C. § 6863 — Stay of collection of jeopardy assessments

(a) Bond to stay collection When an assessment has been made under section 6851, 6852, 6861 or 6862, the collection of the whole or any amount of that assessment may be stayed by filing with the Secretary^*, within that time as may be fixed by regulations prescribed by the Secretary, a bond in an amount equal to the amount as to which the stay is desired, conditioned upon the payment of the amount (together with interest thereon) the collection of which is stayed, at the time at which, but for the making of that assessment, that amount would be due. Upon the filing of the bond the collection of so much of the amount assessed as is covered by the bond must be stayed. The taxpayer^* must have the right to waive that stay at any time in respect of the whole or any part of the amount covered by the bond, and if as a result of that waiver any part of the amount covered by the bond is paid, then the bond must, at the request of the taxpayer, be proportionately reduced. If any portion of that assessment is abated, the bond must, at the request of the taxpayer, be proportionately reduced.

(b) Further conditions in case of income, estate, or gift taxes In the case of taxes subject to the jurisdiction of the Tax Court^*—
(1) before petition to Tax Court If the bond is given before the taxpayer has filed his petition under section 6213(a), the bond must contain a further condition that if a petition is not filed within the period provided in that section, 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 that period, together with interest thereon from the date of the jeopardy notice and demand to the date of notice and demand under this paragraph.
(2) Effect of Tax Court decision The bond must be conditioned upon the payment of so much of that assessment (collection of which is stayed by the bond) as is not abated by a decision of the Tax Court which has become final. If the Tax Court determines that the amount assessed is greater than the amount which should have been assessed, then when the decision of the Tax Court is rendered the bond must, at the request of the taxpayer, be proportionately reduced.
(3) Stay of sale of seized property pending Tax Court decision
(A) General rule Where, notwithstanding the provisions of section 6213(a), an assessment has been made under section 6851, 6852, or 6861, the property seized for the collection of the tax must not be sold—

(i) before the expiration of the periods described in subsection (c)(1)(A) and (B), (ii) before the issuance of the notice of deficiency^* described in section 6851(b) or 6861(b), and the expiration of the period provided in section 6213(a) for filing a petition with the Tax Court, and (iii) if a petition is filed with the Tax Court (whether before or after the making of that assessment), before the expiration of the period during which the assessment of the deficiency would be prohibited if neither sections 6851(a), 6852(a), nor 6861(a) were applicable. Clauses (ii) and (iii) must not apply in the case of a termination assessment under section 6851 if the taxpayer does not file a return for the taxable year^* by the due date (determined with regard to any extensions).
(B) Exceptions that property may be sold if—

(i) the taxpayer consents to the sale, (ii) the Secretary determines that the expenses of conservation and maintenance will greatly reduce the net proceeds, or (iii) the property is of the type described in section 6336.
(C) Review by Tax Court If, but for the application of subparagraph (B), a sale would be prohibited by subparagraph (A)(iii), then the Tax Court must have jurisdiction to review the Secretary’s determination under subparagraph
(B) that the property may be sold. that review may be commenced upon motion by either the Secretary or the taxpayer. An order of the Tax Court disposing of a motion under this paragraph must be reviewable in the same manner as a decision of the Tax Court.

(c) Stay of sale of seized property pending district court determination under section 7429
(1) General rule Where a jeopardy assessment has been made under section 6862(a), the property seized for the collection of the tax must not be sold—
(A) if a civil action is commenced under section 7429(b), on or before the day on which the district court judgment in that action becomes final, or
(B) if subparagraph
(A) does not apply, before the day after the expiration of the period provided in section 7429(a) for requesting an administrative review, and if that review is requested, before the day after the expiration of the period provided in section 7429(b), for commencing an action in the district court.
(2) Exceptions about any property described in paragraph (1), the exceptions provided by subsection (b)(3)(B) must apply.