Page:United States Statutes at Large Volume 47 Part 1.djvu/273

 72d CONGRESS. SESS. I. CH. 209. JUNE 6,1932 . 249 (except those which under section 504 are not to be included in the We, GIFT ES total amount of gifts for such year) shall make a return under oath Computing net g ift s. in duplicate. The return shall set forth (1) each gift made during the calendar year which under section 504 is to be included in com- Deductions allowed. puting net gifts ; (2) the deductions claimed and allowable under Net gifts for preced- section 505 ; (3) the net gIfts for each of the preceding calendar i o her s nfonnationr e years ; and (4) such further information as may be required by qui red. regulati ons made pursuan t to law. Time and place for (b) TI ME AND PLA CE FOR FILING. The return shall be filed on or filin g. before the 15th day of March following the close of the calendar year with the collector for the district in which is located the legal residence of the donor or if he has no legal residence in the United States t hen (unl ess tie Commissi oner des ignates a nother d istrict) with le collecto r at Bal timore, Maryland. SEC. 508. RECORDS AND SPECIAL RETURNS. returns. and special (a) BY DONOR.-Every person liable to any tax imposed by this By donor. title or for the collection thereof, shall keep such records, render under oath such state ments, make such retu rns, a nd co mply with such rules and regulations, as the Commissioner, with the approval of the Secretary, may from time to time prescribe. Liability to ta x. (b) To DETE RMINE LIABILITY To TAX.-Whenever in the judgment Any person may be of the Commissi oner nec essary h e may re quire an y Person by noti ce required to make re turns. served upon him, to make a return, render under oath such state- ments, or keep such records, as the Commissioner deems sufficient to show whether or not such person is liable to tax under this title. S'EC. 509. PAYMENT OF TAX. Payment of ta x. (a) TIME OF PAYMENT.-The tax imposed by this title shall be Date when du e. paid by the donor on or before the 15th day of March following the close of the calendar year. Exte nsion of time. (b) EXTENSION OF TI ME FOR PAYME NT.- At the request of the donor, the Commissioner may extend the time for payment of the amount determi ned as the tax b y the donor, for a period not to exceed six months from the date prescribed for the payment of the tax. In such case the amount in respect of which the extension is granted shall be paid on or before the date of the expiration of the period of the extension. Voluntary advance (C) VOLUNTARY ADVANCE PAYMENT .-A tax imposed by this title, payment. may be paid, at the election of the donor, prior to the date prescribed for its payment. Fractions of cent. (d) FRA CTIO NAL PART S OF CENT .-In the payment of any tax under this title a fractional part of a cent shall be disregarded unless it amounts to one-half cent or more, in which case it shall be increased to 1 cent. Collector's receipts. (e) REcEIPTs.-The collector to whom any payment of any gi ft tax is made shall, upon request, grant to the person making such payment a receipt therefor. SEC. 510. L IEN FOR TAX. Lien for tax. The tax imposed by this title shall be a lien upon all gifts made Effect of. during the calendar year, for ten years from the time the gifts are Donee'sliabilitys made. If the tax is not paid when due, the donee of any gift shall be personally liable for such tax to the extent of the value of such gift. Any part of the property comprised in the gift sold by the of sa Att l eehmentinevent donee to a bona fide purchaser for an adequate and full considera- tion in money or money's worth shall be divested of the lien herein imposed and the lien, to the extent of the value of such gift, shall att ach to a ll the p roperty of the d onee (in cluding after-ac quired property) except any part sold to a bona fide purchaser for an