CODIFICATION OF INTERNAL REVENUE SERVICE ADMINISTRATIVE PROCEDURES FOR SEIZURE OF TAXPAYER’S PROPERTY.

SEC. 3444. CODIFICATION OF INTERNAL REVENUE SERVICE ADMINISTRATIVE PROCEDURES FOR SEIZURE OF TAXPAYER’S PROPERTY. (a) In General.— Section 6331 (relating to levy and distraint), as amended by section 3433, is amended by redesignating subsection (j) as subsection (k) and by inserting after subsection (i) the following new subsection: “(j) Levy Before Investigation of Status of Property.— “(1) In general.— For purposes of applying the provisions of this subchapter, no levy may be made on any property or right to property which is to be sold under section 6335 until a thorough investigation of the status of such property has been completed. “(2) Elements in investigation.— For purposes of paragraph (1), an investigation of the status of any property shall include— “(A) a verification of the taxpayer’s liability; “(B) the completion of an analysis under subsection (f); “(C) the determination that the equity in such property is sufficient to yield net proceeds from the sale of such property to apply to such liability; and “(D) a thorough consideration of alternative collection methods.”. (b) Effective Date.— The amendments made by this section shall take effect on the date of the enactment of this Act.