Page:United States Statutes at Large Volume 47 Part 1.djvu/279

 72d CONGRESS. SESS. I. CH. 209. JUN E 6,1 932. 255 (b) FRAUD.-If any part of any deficiency is due to fraud with GIFT TAXES intent to evade tax, then 50 per centum of the total amount of the Due fraud. de ficiency (in add ition to such de ficiency ) shall be so assessed, collected, and p aid, in lieu of the 50 per centu m addition to the tax R .S ., see. 3176, p .610. provided in section 3176 of the Revised Statutes, as amended. U.S. C., p.731. S'EC. 521. INTEREST ON EXTENDED PAYMENTS. Interest on extended (a) TAX SHOWN ON RETURN .-If the ti me for payment of the payments . amount determined as the tax by the donor is extended under the Tax on r2tuurn. Ante, p. authority of section 509 (b), there shall be collected as a part of 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 extensio n had be en grant ed, unti l the ex piration of the p eriod of the extension. (b) DEFIciENcY .-In ca se an extension for the paymen t of a cicOnypxtended dell . deficiency is granted, as provided in section 513 (i), there shall be Ante, p. 251. 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 exte nsion, and no ot her interest shall be collected on such part of the deficiency for such per iod. SEC. 522. INTEREST ON DEFICIENCIES. Interest on deS- In terest upon the amount dete rmine d as a defi cienc y shall be ClDetermination, coi- assessed at the same time as the deficiency, shall be paid upon notice sections, etc • and demand from the collector, and shall be collected as a part of the tax, at the rate of 6 per centum per annum from the due date of the tax to the date the deficiency is assessed, or, in the case of a waiver under section 513 (d), to the thirtieth day after the filing of such waiver or to the date the deficiency is assessed whichever is the earlier. SEC. 523. INTEREST ON JEOPARDY ASSESSMENTS. Inte rest on J eopar dy In the cas e of the amount collecte d under section 514 (f) there AcAnte p. 252. shall be collected at the same time as such amount, and as a part of the tax, interest at the rate of 6 per centum per annum upon such Rate. amount from the date of the jeopardy notice and demand to the date of notice and demand under section 514 (i), or, in the case of the amount collected in excess of the amount of the jeopardy assessment, interest as provided in section 522. SEC. 524. ADD ITIONS TO THE TAX IN CAS E OF N ONPAYME NT. non pa yme nt . taxes 1I (a) TAX SHOWN ON RETUEN- (1) PAYMENT NOT EXTENDED .-Where the amount determined Unpaid on d ue date, wh en payment not by the donor as the tax imposed by this title, or any part of such extended. amount, is not paid on the due date of the tax, there shall be col- lected as a part of the tax, interest upon such unpaid amount at the rate of 1 per centum a month from the due date until it is paid. (2) P AYME NT EXTENDED .-Where an extension of time for pay- whe n pay ment ex- ment of the amou nt so deter mined as the tax by the donor has tandbd. been granted, and the amount the time for payment of which has been extended, and the interest thereon determined under section 521(a), is not paid in full prior to the expiration of the period of the extension, then, in lieu of the interest provided for in para- graph (1) of this subsection, 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 the extension until it is paid. (b) DEFIC IENCY- Deficiency. (1) PAYMENT NOT EXTENDED.-Where a deficiency, or any inter- fa uxa ent not ex- est asse ssed in connecti on there with und er sectio n 522, or any addition to the tax provided for in section 3176 of the Revised