Page:United States Statutes at Large Volume 42 Part 1.djvu/345

 SIXTY-SEVENTH CONGRESS. Sass, I. Ch. 136. 1921. 317 consists_of a tax imposed under the authority of the United States, or ’“"""““"" ·*" °' '°"‘- (2) ascribing a particular part of such price to a tax imposed under the authority o the United States, knowing that such statement is false or that the tax is not so great as the portion of such price ascribed to such tax, shall be guilt of a misdemeanor and upon conviction P¤¤iSh¤1¤¤tf¤f- thereof shall be punis ed by a fine of not more than $1,000 or by imprisonment not exceeding one year, or both. ·rAx sm1>L11··1oA·r1oN nomn. B0'§’;§_ SimP““°°“°“ Sec. 1327. (a) That there is hereby established in the Department u,§5{;‘§$;f*°*;g'*"°°* of the Treasury a board to be known as the "Tax Simpliiication ` Board" (hereinafter in this section called the "Board"), to be composed as follows: (1) Three members who shall represent the public, to be appointed ufegbuc ¤·>l>*¢*¤*¤· by the President; and ` (2) Three members who shall represent the Bureau of Internal B,]f,‘,°§,§““‘ ,,,,{‘,§§§,§‘§E Revenue and shall be officers or em oyees of the United States serv- tivesing in such Bureau, to be appointed)bH the Secretary. (b) Any vacancy in the Board sha be filled in the same manner vacancies. as the original appointment. The members representing the public ti§cgb‘;'i]°;3**;°rg@gQj shall serve without compensation except reimbursement for traveling, mg, ea., expenses. subsistence, and other necessary ex enses incurred in the performance of the duties vested in them by this section. The members representing the Bureau of Intern Revenue shall serve without com- - pensation in addition to that received for their service in such Bureau. (c) The Secretary shall furnish the Board with such clerical assist- su‘;;’,,'§,_°‘c,c*j*"’*°“°°· arice, quarters and stationery furniture, office equipment, and other ' supplies as may be necessary for the performance of the duties vested in them by this section. ‘ (d) It shall be the duty of the Board to investigate the procedure D"““" of and the forms used by the Bureau in the administration of the internal revenue laws, and to make recommendations in respect to the simpliiication thereof. The Board shall make a report to the R°P°“ ‘°C°¤¢'°“· Con ess on or before the first Monda of December in each year. (e§rThe explenditures of the Board, shall be paid upon vouchers "°“*'°‘°'°*P°'“”· approved by the Board and signed gy the chairman thereof. For the "”'°“°° “"°h°d“°`1' expenditures of the Board for the scal year ending June 30, 1922, there is authorized to be appropriated, out of any money in the Treasur not otherwise appropriated, the sum of $10,000. (f) The Board shall cease to exist on December 31, 1924. T°"‘““““°“ °'· oousounxrrou or LIBERTY norm Tax Exnurrrons. L“’°"" "°“°*’· Sec. 1328. That the various Acts authorizing the issues of Liberty ,,,E§,“§§E?,§‘§§’§ °‘ “"‘ bonds are amended and supplemented as follows: _ (a) On and after January 1, 1921, 4 per centum and 4} per centum ;.,$,‘g,{’°§‘”,?§,‘}, ,§,Q.§,'j Liberty bonds shall be exempt from graduated additional income °*°*“°°°¤*° temtaxes, commonly known as surtaxes, and excess-profits and war-plroiits taxes, now or hereafter imposed by the Unite States upon the income or profits of individuals, partnerships, corporations, or associations, in res act to the interest on aggregate principal amounts thereof as folliowsz _ Until the expiration of two ears after the date of the termination g'§{§{"§_*{@§*g{ of the war between the United States and the German Government, iV<>r1d Weras Exed by proclamation of the President, on $125,000 aggregate Fo,,_,,mywmm_ principal amount; and for three years more on $50,000 aggregate principal amount. _ _ (b) The exemptions provided in subdivision (a) shall be in addi- °£Q,§dl*}‘§,§‘§¥ ‘° p“°' tion to the exemptions provided in section 7 of the Second Liberty $,:122. p- gg- Bond Act, and in addition to the exemption provided in subdivision '°’ `