§ 1094. Jeopardy assessment.---(a) Authority for making.---If the tax\ncommission believes that the assessment or collection of a deficiency\nwill be jeopardized by delay, it shall, notwithstanding the provisions\nof section one thousand eighty-one, immediately assess such deficiency\n(together with all interest, penalties and additions to tax provided for\nby law), and notice and demand shall be made by the tax commission for\nthe payment thereof.\n (b) Notice of deficiency.---If the jeopardy assessment is made before\nany notice in respect of the tax to which the jeopardy assessment\nrelates has been mailed under section one thousand eighty-one, then the\ntax commission shall mail a notice under such section within sixty days\nafter the making of the assessment.\n (c) Amount assessable before decision of tax commission.---The\njeopardy assessment may be made in respect of a deficiency greater or\nless than that of which notice is mailed to the taxpayer and whether or\nnot the taxpayer has theretofore filed a petition with the tax\ncommission. The tax commission may, at any time before rendering its\ndecision, abate such assessment, or any unpaid portion thereof, to the\nextent that it believes the assessment to be excessive in amount. The\ntax commission may in its decision redetermine the entire amount of the\ndeficiency and of all amounts assessed at the same time in connection\ntherewith.\n (d) Amount assessable after decision of tax commission.--- If the\njeopardy assessment is made after the decision of the tax commission is\nrendered, such assessment may be made only in respect of the deficiency\ndetermined by the tax commission in its decision.\n (e) Expiration of right to assess.---A jeopardy assessment may not be\nmade after the decision of the tax commission has become final or after\nthe taxpayer has made an application for review of the decision of the\ntax commission.\n (f) Collection of unpaid amounts.---When a petition has been filed\nwith the tax commission and when the amount which should have been\nassessed has been determined by a decision of the tax commission which\nhas become final, then any unpaid portion, the collection of which has\nbeen stayed by bond, shall be collected as part of the tax upon notice\nand demand from the tax commission, and any remaining portion of the\nassessment shall be abated. If the amount already collected exceeds the\namount determined as the amount which should have been assessed, such\nexcess shall be credited or refunded to the taxpayer as provided in\nsection one thousand eighty-six without the filing of claim therefor. If\nthe amount determined as the amount which should have been assessed is\ngreater than the amount actually assessed, then the difference shall be\nassessed and shall be collected as part of the tax upon notice and\ndemand from the tax commission.\n (g) Abatement if jeopardy does not exist.---The tax commission may\nabate the jeopardy assessment if it finds that jeopardy does not exist.\nSuch abatement may not be made after a decision of the tax commission in\nrespect of the deficiency has been rendered or, if no petition is filed\nwith the tax commission, after the expiration of the period for filing\nsuch petition. The period of limitation on the making of assessments and\nlevy or a proceeding for collection, in respect of any deficiency, shall\nbe determined as if the jeopardy assessment so abated had not been made,\nexcept that the running of such period shall in any event be suspended\nfor the period from the date of such jeopardy assessment until the\nexpiration of the tenth day after the day on which such jeopardy\nassessment is abated.\n (h) Bond to stay collection.---The collection of the whole or any\namount of any jeopardy assessment may be stayed by filing with the tax\ncommission, within such time as may be fixed by regulation, a bond in an\namount equal to the amount as to which the stay is desired, conditioned\nupon the payment of t
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