26 U.S.C. § 6336

§ 6336. Sale of perishable goods

172 words · amended 2 times · cited by 3 other sections

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History

Part of the code since 1954. Last changed July 1, 2019 by the Public Law 116-25.

Every change, newest first (3)

July 1, 2019Public Law 116-25
October 4, 1976Tax Reform Act of 1976
August 16, 1954Internal Revenue Code of 1954 (original text)

The law as written

Current through Public Law 119-102. Amendment notes omitted.

If the Secretary determines that any property seized is liable to perish, he shall appraise the value of such property and—

(1) Return to owner

If the owner of the property can be readily found, the Secretary shall give him notice of such determination of the appraised value of the property. The property shall be returned to the owner if, within such time as may be specified in the notice, the owner—

(A)

Pays to the Secretary an amount equal to the appraised value, or

(B)

Gives bond in such form, with such sureties, and in such amount as the Secretary shall prescribe, to pay the appraised amount at such time as the Secretary determines to be appropriate in the circumstances.

(2) Immediate sale

If the owner does not pay such amount or furnish such bond in accordance with this section, the Secretary shall as soon as practicable make public sale of the property in accordance with such regulations as may be prescribed by the Secretary.