Page:United States Statutes at Large Volume 47 Part 1.djvu/264

 240 72d CONGRESS. SESS. I. CH. 209 . JUNE 6, 1932 . INCOME TAX SEC. 295. TIME EX TEND ED FOR PAY MENT OF TAX SH OWN ON Ti me extended for RETURN. payment of tax shown If the time for payment of the amount determined as the tax by Interest. the taxpayer, or any installment thereof, is extended under the authority of section 56 (c), there shall be collected as a part of Ante, p. 189. such amount, interest thereon at the rate of 6 per centum per annum from the date whe n su ch p ayme nt should ha ve been mad e if no extension had be en granted, unti l the expiration of the period of the extension. Time extended for SEC. 296. TIME EXTEND ED FOR PAYME NT OF DEFICI ENCY. payment of deficiency. Interest for period of If the time for the bayment of any part of a deficiency is extended extension• there shall be collected, as a part of the tax, interest on the part of the deficiency the time for payment of which is so extended, at the rate of 6 per centum per annum for the period of the extension, and no other interest shall be collected on such part of the deficiency for Add iti on al, if not such period. If the part of the deficiency the time for payment of paid. 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 other interest shall be collecte d on such unpaid amount for such period. Interest on Jeopardy SEC. 297. INTEREST IN CASE OF JEOPARDY ASSESSMENTS. ~Rto of`e on amount In the case of the amount c ollected under s ection 2 73 (i) there collected. shall be collected at the same time as such amount, and as a part of Ante, p. 236 . the tax, interest at the rate of 6 per centum per annum upon such amount from the da te of the jeopardy notice and demand to the date of notice and demand under section 273(i), or, in the case of the amount collected in excess of t he, amount of the jeopardy Additional, if amount assessment, interest as provided in section 292. If the amount of deficiency not paid included in the notice and demand from the collector under section in full. 273(i) is not paid in full within ten 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. Bankruptcy and re- SEC.. 298. BANK RUPTCY AND R ECEIVE RSHIPS. oet . it not paid Interest, If the uunpaid portion of the claim allowed in a bankruptcy or on dema nd. receivership proceeding, as provided in section 274, is not paid in Ante' p. 237 . full within 10 days from the date of notice and demand from the collec tor, the n there shall be collect ed as a part of such amo unt interest upon the unpaid portion thereof at the rate of 1 per centum a month from the date of such notice and demand until payment. Removal of property. SEC. 299. REMOVAL OF PROPERTY OR DEPARTURE FROM UNITED STATES. Additions to tax for, For additions to tax in case of leaving the United States or ate. nte, p. 217. concea ling pro perty in such ma nner as to hinde r collec tion of the tax, see section 146. claims against tram- Supplement N-Claims against Transferees and Fiduciaries terees and fiduciaries. Transferred assets . SEC. 3 1 1 . TkANSFERRED ASSETS. Method of collection (a) METHOD OF COLLECTION .-The amounts of the fol lowi ng lia- almio~tiontoo deficiency bilities shall, except as hereinafter in this section provided, be assessed, collected, and paid in the same manner and subject to the