Issuance of statutory notice of deficiency
(a)
(1) General rule. The running of the period of limitations provided in section 1161 or 1162 of this subtitle on the making of assessments or the collection by levy or a proceeding in court, shall be suspended for the period during which the Director is prohibited from making the assessment or from collecting by levy or a proceeding in court with respect to any Internal Revenue Tax imposed by this subtitle or the Virgin Islands income tax law and in any event, if a proceeding in respect of the tax liability is placed on the docket of the municipal or district court until the decision of the district court becomes final and for 60 days thereafter.
(2) Corporation joining in consolidated income tax return. If a notice under section 942(a) of this title in respect of a deficiency in tax imposed by the Virgin Islands income tax law for any taxable year is mailed to a corporation, the suspension of the running of the period of limitations provided in paragraph (1) of this subsection shall apply in the case of corporations with which such corporation made a consolidated income tax return for such taxable year.
Assets of taxpayer in control or custody of court
(b) The period of limitations on collection after assessment prescribed in section 1162 of this title shall be suspended for the period the assets of the taxpayer (other than the estate of a decedent or of an incompetent) are in the control or custody of the court in any proceeding before any court of the Virgin Islands or of the United States or of any State, and for 6 months thereafter.
Location of property outside the Virgin Islands or removal of property from
the Virgin Islands
(c) In case collection is hindered or delayed because property of the taxpayer is situated or held outside the Virgin Islands or is removed from the Virgin Islands, the period of limitations on collection after assessment prescribed in section 1162 of this title shall be suspended for the period collection is so hindered or delayed. The total suspension of time under this subsection shall not in the aggregate exceed 6 years.