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Tennessee Code Title 67. Taxes and Licenses § 67-1-1429

Current as of January 02, 2024 | Updated by Findlaw Staff

(a) LENGTH OF PERIOD.

(1) Where the assessment of any tax imposed by this or any other title has been made within the applicable period of limitation, such tax may be collected by levy or by a proceeding in court, but only if the levy is made or the proceeding begun:

(A) Within six (6) years after the assessment of the tax becomes final; or

(B) Prior to the expiration of any period for collection agreed upon in writing by the commissioner or the commissioner's delegate and the taxpayer before the expiration of such six-year period; or, if there is a release of levy under § 67-1-1427 after such six-year period, then before such release. The period so agreed upon may be extended by subsequent agreements in writing made before the expiration of the previously agreed upon period.

(2) The period provided by this subsection (a) during which a tax may be collected by levy shall not be extended or curtailed by reason of a judgment against the taxpayer.

(3) The period for collection provided in subdivision (a)(1)(A) shall not apply if the tax liability has been reduced to judgment in a suit begun within such period. Such tax may be collected at any time subsequent to assessment without limitation after such judgment.

(4) Nothing in this section shall apply to the collection of ad valorem taxes assessed against real or personal property by any county or municipality in this state.

(5) The period for collection provided in subdivision (a)(1)(A) ceases running upon the imposition of a bankruptcy stay as provided in 11 U.S.C. § 362 or upon the filing of a probate, receivership, or assignment for the benefit of creditors proceeding. Such period recommences running thirty (30) days after the stay is lifted or the proceeding prohibiting collection ends.

(b) DATE WHEN LEVY IS CONSIDERED MADE. The date on which a levy on property or rights is made shall be the date on which the notice of seizure provided in § 67-1-1414 is given.

(c) RELEASE OF LIEN. At any time after the expiration of the period specified in subsection (a), the person holding title to the property on which the lien is placed may request the department to release the lien. If the department does not release the lien within sixty (60) days of the request, it shall be liable for court costs in any action to remove the lien.

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Cite this article: FindLaw.com - Tennessee Code Title 67. Taxes and Licenses § 67-1-1429 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-67-taxes-and-licenses/tn-code-sect-67-1-1429/

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