§7601 — Canvass of districts for taxable persons and objects
7 cases·2 overruled·5 cited
Statute Text — 26 U.S.C. §7601
The Secretary shall, to the extent he deems it practicable, cause officers or employees of the Treasury Department to proceed, from time to time, through each internal revenue district and inquire after and concerning all persons therein who may be liable to pay any internal revenue tax, and all persons owning or having the care and management of any objects with respect to which any tax is imposed.
For penalties applicable to forcible obstruction or hindrance of Treasury officers or employees in the performance of their duties, see section 7212.
Treasury Regulations
- Treas. Reg. §Treas. Reg. §301.7601-1 Canvass of districts for taxable persons and objects
7 Citing Cases
revent certain perceived abuses, Congress enacted section 1031(f) to limit nonrecognition treatment under section 1031(a) in the case oflike-kind exchanges between related persons. See Omnibus Budget Reconciliation Act of 1989, Pub. L. No. 101-239, sec. 7601, 103 Stat. at 2370- 2371; see also H.R. Rept. No. 101-247, at 1340 (1989), 1989 U.S.C.C.A.N. 1906, 2810 ("Because a like-kind exchange results in the substitution ofthe basis ofthe exchanged property for the property received, related partie