Page:United States Statutes at Large Volume 43 Part 1.djvu/329

 298 SIXTY—EIGHTH CONGRESS. Srzss. I. C11. 234. 1924. ¤*¤°¤¤ *¤- Where it is shown to the satisfaction of the Commissioner sv]§iit°ii°iii.°ii'ie°1ii°i.i}'¤i»fiuii? theitgihe payment of a deficiency upon the date prescribed for the °°"*“’°"" payment thereof will result in undue hardship to the taxpayer the Commissioner, with the approval of the Secretary (except where the deficiency is due to negligence, to intentional disregard of rules and regulations, or to fraud with intent to evade tax), may girant an extension for the payment of such deficiency or any part thereof for a B°"d '°‘*“""d· period not in excess of eighteen months. If an extension is granted, the Commissioner may require the taxpayer to furnish a ond in such amount, not exceeding double the amount of the deficiency, and with such sureties, as the Commissioner deems necessa1y,_conditioned upon the payment of the deficiency in accordance Wllill the I"°°'°"°"‘°“°*°"°’· terms of like extension. In sluch case iihelpe slhgll be colllected, ai a parto thetax, interestont e arto the e ciencyt etime or payment of which is so extendedi at the rate of 6 per centum per _ _ _ annum for the period of the extension, and no other interest shall be ,,;§,‘{‘},‘;§'},‘§',,,,{‘§f,‘,,'§'§,* collected on such art of the deficiency for such period. If the part of the deficiency the time for payment of which IS so extended is not paid in accordance with the terms of the extension, there shall be collected, as a part of the tax, interest on such unpaid amount at the rate of 1 per centum a month for the period from the time fixed by the terms of the extension for its payment until it is paid, and no ootllier interest shall be collected on such unpaid amount for such .. PH'! · A‘m"'°"s’°‘°‘· Annrrroxs ro run Tax m casa or nnmcmncr. H °°°°“”‘“’ °“° °° Sec. 275. (a) If any art of an deiicienc is due to n li nc or mgligeneaetc. intentional disregard ofp rules andyregulatiogs but withdiiit igriatexzi to defraud, 5 per centum of the total amount of the dehciency (in addition to such deficiency) shall be assessed, collected, and paid in the samejnanner as if it were a deficiency, except that the provisions of H from {mmm subdivisions (e) and (f) of section 274 shall not be applicable. mem. (b) If any part of any deficiency is due to fraud with intent to evade tax, then 50 per centum of the total amount of the deficiency (Ill addition to suci deficiency) shall be so assessed, collected, and Pm W paid, in lieu of the 50 per centum addition to the tax provided in ·"‘ ‘ ‘ section 3176 of the Revised Statutes, as amended. D°““""°“"i"$‘ Annrrioxs TO rrrr: mx IN casa or DELINQUENCY. ,,§;‘$$,f,, §,,§j“ "°° Sec. 276._ (a) (1) Where the amount determined by the taxpayer as the tax imposed by this title, or_any installment thereof, or any part of such amount or installment, is not paid at the time prescribed or its payment, there shall be collected as a part of the tax, interest upon such unpaid amount at the rate of 1_per centum a month from Hm mdlmmt n the date plrescribed for 1.tS payment until it is paid. emmm mt mid Qu (2) IV ere an extension of time for payment of the amount so M1- determined as the tax by the taxpayer, or any installment thereof, has been granted, and the amount the time for payment of which has been extended, and the interest thereon determined under paragraph (2) of subdivision (c) of section 270, is not paid in full prior to the expiration of the period of the extension, then, in lieu of the interest provided for in paragraph (1) of this subdivision, interest at the rate of 1 per centum a month shall be collected on such unpaid amount from the date of the expiration of the period of I t St Td §_ the extension until it is paid. aw? gl; ,3,:],; $,,,°;$§g,; (bl jWh€I‘€ 3 <1€H¢1€¤0_Y, Q? filly interest or additional amounts as- ¤¤·1 d¢¤¤¤¤d· sessed in connection therewith under subdivision (f) of section 27 4, PMD. m' or under section 275, or any_add1tion to the tax in case of delinquency provided for in section 3176 of the Revised Statutes, as