Page:United States Statutes at Large Volume 40 Part 1.djvu/1104

 1086 SIXTY-FIFTH ooxennss. sas. III. ori. 18. 1919. ¤‘°°“E “‘· regulations as the Commissioner, with the approval of the Secretary, may prescribe, showing the names of customers for whom such individual, corporation, or partnership has transacted any business, with such details as to the profits, losses, or other information which the Commissioner may require, as to each of such customers, as will enable the Commissioner to determine whether all income tax due on proits or gains of such customers has been paid. Sm£,{¤cf,f>*¤e**°¤ at INFORMATION AT sormon. ` ,,§S$,‘},‘§”,§,§iak{,§°m,,x§f§ Sec. 256. That all individuals, corporations, and partnerships in g?%¢¤¢S ¤¤ ¤*§¤¤¤¤ ¤f whatever capacity acting, including lessees or mortgagors of real or km}, p. asv. personal property, fiduciaries, and employers, making payment to another individual, corporation, or partnership, of interest, rent, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, or other fixed or determinable gains, profits, and income (other than payments described in sections 254 and 255), of Ogticgm U¤i*°d Sims $1,000 or more rn any taxable year, or, in the case of such tgiayments ' grade lily the Ulrpted States, the oiililcers or employees of de Unitpid tates avin ormation as to suc a ents an re uire to ma e returns in regard thereto by the regullat@s hereinafte(i· provided for, shall render a true and accurate return to the Commissioner, under such regulations and in such form and manner and to such extent as pnayhbal prescribed by hirpl with the apiprovaldof the Secretgryli setting ort e amount o suc gains, pro ts, an income, an the name mmm on ang atgdreiss of the rgcipient cgi such pgymenft. t (1) _ th ,,0,, ,,,,1,g,,¤,m.,_ uc re urns may erequir, regar ess o amoun s, in ecase _ _ of payments of interest u on bonds, mort ages, deeds of trust, or ‘°'°‘g“ other similar obligations ofp corporations, and (2) in the case of collectiong of gtpms (not payable in She United State? og intéerestt upgrilthe on s o oreign countries an interest u on the on s o an `vidends from foreign corporations by individhals, corporations, or partnerships undertaking as a matter of business or for profit the collection o foreign payments of such interest or dividends by means of co1%ns, checks, or bills of exchange. sc§*m°° md Mm en necessary to make effective the provisions of this section the game alnd fadgress of tge riecipient of income shall be éprnished uppn _ eman o the in ivi ua, corporation, or partners `p paying t 16 mcome. ye'? ‘°° '¤°‘*° mh The provisions of this section shall apply to the calendar year 1918 and each calendar year thereafter, but shall not apply to the payment of interest on obligations of the United States. P“b“°"" RETURNS ·ro nr: runrro nsconns. ucI?ctl`;§_`$, mlm pub` Sec. 257. That returns upon which the tax has been determined by l§j,¥f§g‘§j’P,§§s;{:,°;g; the Commissioner shall constitute public records; but they shall be ed. ’ ’ open to inspection only upon order of the President and under hmm rules and regulations prescribed by the Secretary and approved by Access by gms Om. the President: Promde, That the proper officers of any State 1mp0S· °°”· mg an mcome tax may, upon the request of the governor thereof, h&V6 access to the returns of any cortjporation, or to an abstract thereof St kh ld I C0 showing the name and income o the corporation, at such times and ,,(,,,,‘§,,,,° HQ; in such manner as the Secretary may prescribe: Promded furiflft', ¢¤r¤s- That all bona fide stockholders of recor owmn 1 er centum or more of the outstanding stock of any corporation   upon making re- Pmghmen, ,0, ,m_ quest of the Commissioner, be allowed to examine the annual incomé aurhorizeddivulzine- returns of such corporation and of its subsidiaries. Any stockholder who pursuant to the provisions of this section is allowed to examine