112 STAT. 762 PUBLIC LAW 105-206-^ULY 22, 1998 (A) by striking "real"; and (B) by inserting "or certificate of sale of personal property after "deed"; and (2) by adding at the end the following new subsection: "(c) ACCOUNTING TO TAXPAYER.— The taxpayer with respect to whose liability the sale was conducted or who redeemed the property shall be furnished— "(1) the record under subsection (a) (other than the names of the purchasers); "(2) the amount from such sale applied to the taxpayer's liability; and "(3) the remaining balance of such liability.". Applicability. (b) EFFECTIVE DATE.— The amendments made by this section 26 USC 6340 shall apply to seizures occurring after the date of the enactment "'^t^- of this Act. 26 USC 6335 SEC. 3443. UNIFORM ASSET DISPOSAL MECHANISM. Deadline. Not later than the date which is 2 years after the date of the enactment of this Act, the Secretary of the Treasury or the Secretary's delegate shall implement a uniform asset disposal mechanism for sales undei' section 6335 of the Internal Revenue Code of 1986. The mechanism should be designed to remove any participation in such sales by revenue officers of the Internal Revenue Service and should consider the use of outsourcing. SEC. 3444. CODIFICATION OF INTERNAL REVENUE SERVICE ADMINIS- TRATIVE 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) No 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.". 26 USC 6331 (b) EFFECTIVE DATE.— The amendments made by this section note. shall take effect on the date of the enactment of this Act. SEC. 3445. PROCEDURES FOR SEIZURE OF RESIDENCES AND BUSINESSES. (a) IN GENERAL. —Section 6334(a)(13) (relating to property exempt from levy) is amended to read as follows:
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