Page:United States Statutes at Large Volume 44 Part 2.djvu/101

 within 10 days after such notice and demand, then there shall be collected, as part of the tax, interest upon the unpaid amount at the rate of 1 per centum a month (or, for any period the estate of the taxpayer is held by a fiduciary appointed by any court of competent jurisdiction or by will, at the rate of 6 per centum per annum) from the date of such notice and demand until it is paid.

(k) No claim in abatement shall be filed in respect of any ment made after the enactment of this Act in respect of any income, war-profits, or excess-profits tax.

INCOME TAX. 61 claim to be fled bere No other abatement after.

Transferred asseta. subjecting transferee to

Smo.290 (a) The amounts of the following liabilities shall, except Designated abilities as hereinafter in this section provided, be assessed, collected, and a similar to def paid in the same manner and subject to the same provisions and deades. hantitations as in the case of a deficiency in a tax imposed by this title (including the provisions in case of delinquency in payment after notice and demand, the provisions authorising distraint and proceedings in court for collection, and the provisions prohibiting claims and suits for refunds): payer by

(1) The liability, at law or in equity, of a transferee of property imposed upon tar of a taxpayer, in respect of the tax (including interest, additional tax. amounts, and additions to the tax provided by law) imposed upon the taxpayer by this title or by any prior income, excess-profits, or war-profits tax Act.

(2) The liability of a fiduciary under section 3467 of the Revised Statutes in respect of the payment of any such tax from the estate of the taxpayer. Any such liability may be either as to the amount of tax shown on the return or as to any deficiency in tax.

(b) The period of limitation for assessment of any such liability of a transferee or fiduciary shall be me follows:

Payments from tax- .8., sec. 3467, p. 087. payer's estate. Determination of mo Limitation period. One year after tar-

(1) Within one year after the expiration of the period of limita- payer's Assessment tion for assessment against the taxpayer; or Within six years after

(2) If the period of limitation fer ammmment against the taxpayer taxpayer's Messment expired before the enactment of this Act but saucemment against the made. taxpayer was made within such period, then within six years after the making of such assessment against the taxpayer, but in no case later than one year after the enactment of this Act.

(8) If a court proceeding against the taxpayer for the collection of the tax has been begun within either of the above periods,--then within one year after return of execution in such proceeding. One year for court proceedings. Provision for death

(e) For the purposes of this section, if the taxpayer is deceased, of taxpayer or termi or in the case of a corporation, has terminated its existence, the sated corporation. period of limitation for assement against the taxpayer shall be the period that would be in effect had the death or termination of exist- ence not occurred. Suspension of period Commissioner.

(d) The running of the period of limitation upon the amemment after notice mailed, by of the ability of a transferee or fiduciary shall, after the mailing of the notion under subdivision (a) of section 274 to the transferee of fiduciary, be suspended for the period during which the Commois. sioner is prohibited from making the assment in respect of the liability of the transferee or fiduciary, and for 60 days thereafter.

(e) This section shall not apply to any suit or other proceeding at affected. for the enforcement of the liability of a transferee or fiduciary pending at the time of the enactment of this Act. Pending proceedings Meaning of "trans

(f) As used in this section, the term “transferes" includes heir, torse. legaseo, devisse, and distributee.