Page:United States Statutes at Large Volume 42 Part 1.djvu/294

 266 SIXTY-SEVENTH CONGRESS#.* “Sess. I.  136. 1921; “§°°“ "“· in tax due ma be determined, assessed, and collectedat an time; N°tmwmmym` but prior to thevassessment thereof the taxpayer shall be isiotiiied ‘ and given a period of not less than thirty days in which to Ble an _ appteal and be heard as hereinafter provided in this subdivision. . °,’§’_§g'§,,,°;,.f“’§,1{,,‘f>’°,’,§ u on examination of a return made under the Revenue Act of r¤¢¤r¤- ’ 1916, Sie Revenue Act of 1917, the Revenue Act of 1918, or this Act a. tax or a deficiency in tax is discovered, the taxpayer shall be notified thereof and given aégeriod of not less than thirty days after such notice is sent by register mail in which to Ble an appeal and show cause P¤>¤·1>¢ bww- or reason wh the tax or deficiency should not be paid. gpportumty for hearing slilall be granted and a final decision thereon s be made mxgxtegggsegagev- as quickly as practicable. Any tax or deficiency in tax then deter- ' mined to be due shall be assessed and paid, toget er with the penalty and interest, if any, a plicable thereto,  ten days after notice and demand by the codiector as hereinafter provided, and in such cases _ no claim in abatement of the amount so assessed shall be entertained: _{§§§;}’,;mt www Provided, That in cases where the Commissioner believes that the mm- collection of the amount due will be jeopardized by such delay he may make the assessment without giving such notice or awaiting the conclusion of such hearing. ·$‘}§,* ¤gLg¤¤¤¤¤· (e) If any tax remains unpaid after the date when it is due, and for pm ten da s after notice and demand by the collector, then, except in the case 0; estates of insane, deceased, or insolvent persons, there shall be added as part of the tax the sum of 5 per centum on the amount due but unpaid, plus interest at the rate of 1 er centum er month {{:,°;*°“i°n°u°h,ms upon such amount from the time it became dlie: Prmnd, That as aa abatement. to any such amount which is the subject of a bona Bde claim for abatement Bled within ten days after notice and demand by the collector, where the taxpayer has not had the benefit of the provisions of subdivision (d), such sum of 5 per centum shall not be added and the interest from the time the amount was due until the claim is decided shall be at the rate of one·ha]f of 1 per centum per month on that part _ _ of the claim rejected. '°' In the case of the first installment provided for in subdivision (a) the instructions printed on the return shall be sufficient notice of the date when the tax is due and sufficient demand, and the taxpayers _ computation of the tax on the return shall be sufficient notice o the q,¥,*§}lFd '°' ‘“”°°‘ amount due. In the case of each subsequent installment the collector may, within thirty days and not later than ten days before the installment becomes due, mail to the tax ayer notice of the amount of the installment and the date on whigi it is due for pgyment. Such notice of the collector shall be sufficient notice and su cient demand Hmmm mowed under this section. _ _ _ to é£i.,,»..,,,t undue (f) In the case of any deBciency_(except where the deficiency is W P- due to negligence or to fraud with intent to evade tax) where it is shown to the satisfaction of the Commissioner that the payment of such deficiency would result in undue hardship to the taxpayer, the Commissioner may, with the approval of the Secretary, extend the time for the payment of such defgciency or any part thereof for such period not in excess of eighteen months from the pass e of this Act B°"‘“"‘**““'°"· as the Commissioner may determine. In such case theagommissioner may require the taxpayer to furnish a bond with sufficient smeties conditioned u n the payment of the deBciencylin accordance with ¥¤°*=¤¤*¤>b¤¤¤d¤d— the terms of thi; extension granted. There sha be added in lieu of other interest provided by law, as a part of such deficienc, interest thereon at the rate of two-thirds of 1 per centum per montli, from the time such extension is granted; except where such other interest Mm, I provided by law is in excess of interest at the rate of two-thirds of not paid in accordance with the terms of the extension granted, there
 * ,,¤¤¤t,l'§“y§¤m'Z?°“’°’ 1 per centum per month. If the deBciency or any part thereof is