SUSPENSION OF RUNNING OF PERIOD OF LIMITATION.

SEC. 106. SUSPENSION OF RUNNING OF PERIOD OF LIMITATION. (a) Assets of Estate of Decedent or Incompetent.—Section 6503(b) (relating to assets of taxpayer in control or custody of court) is amended by striking out “(other than the estate of a decedent or of an incompetent) ” and “or Territory”. (b) Collection Hindered by Absence of Taxpayer.—Section 6503(c) (relating to location of property outside the United States or 80 Stat. 1140 removal of property from the United States) is amended to read as follows: “(c) Taxpayer Outside United States.—The running of the period of limitations on collection after assessment prescribed in section 6502 shall be suspended for the period during which the tax-payer is outside the United States if such period of absence is for a continuous period of at least 6 months. If the preceding sentence applies and at the time of the taxpayer’s return to the United States the period of limitations on collection after assessment prescribed in section 6502 would expire before the expiration of 6 months from the date of his return, such period shall not expire before the expiration of such 6 months.” (c) Wrongful Seizure of Property of Third Parties.—Section 6503 (relating to suspension of running of period of limitation) is amended by redesignating subsection (g) as subsection (h) and by inserting after subsection (f) the following new subsection: “(g) Wrongful Seizure of Property of Third Party.—The running of the period of limitations on collection after assessment prescribed in section 6502 shall be suspended for a period equal to the period from the date property (including money) of a third party is wrongfully seized or received by the Secretary or his delegate to the date the Secretary or his delegate returns property pursuant to section 6343(b) or the date on which a judgment secured pursuant to section 7426 with respect to such property becomes final, and for 30 days thereafter. The running of the period of limitations on collection after assessment shall be suspended under this subsection only with respect to the amount of such assessment equal to the amount of money or the value of specific property returned.”