Page:United States Statutes at Large Volume 47 Part 1.djvu/280

 256 GIFT TaXEs Filing of jeopardy bond. Payment extended. Unpaid jeopardy as- sessment staye d by bond. Interest in case of bank rupt cy an d re ceiv- ersh ips. Ante, p. 250. Penalties. For willful failure to pay tax, make returns, etc. Willful evasion a felony . Punishment for. Transferred assets . Method of coll ection. 72d CONGRESS. SESS. I. CH. 209 . J UNE 6,1932 . Statutes, is not paid in full within 10 days from the date of notice and demand from the collector, there shall be collected as part of the tax, interest upon the unpaid amount at the rate of1 per ce ntum a month from the date of such notice and demand until it is paid. (2) FI LING OF JEOPARDY BOND.-If a bond is filed, as provided in section 514, the provisions of paragraph 1) of this subsection shall not apply to the amount covered by the bond. (3) PAYMENT EXTENDED .-If the part of the deficiency the time for payment of which is extended as provided in section 513(i) 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 oth er interest shal l be collected o n such unpaid amount for such period . (4) JEOPARDY ASSESSMENT-PAYMENT STAYED BY BOND .-If the amount included in the notice and demand fr om the collector under section 514(i) is not paid in full 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 from the date of such notice and demand until it is paid. (5) INTEREST IN CASE O F BANK RUPTC Y AND RECEI VERSH IPS .-If th e unpaid portion of the claim allowed in a bankruptcy or receiver- shi p procee ding, as provide d in sec tion 516, is not paid in full within 10 days from the date of notice and demand from the col- lector, then there shall be collected as a part of such amount inter- est upon the unpaid portion thereof at the rate of 1 per centum a month from the date of such notice and demand until payment. SEC. 525. PENALTIES. (a) Any person required under this title to pay any tax, or req ui red by law or regulations ma de un der authority thereof to make a return, keep any records, or supply any information, for the purp oses of the comp utation, assessm ent, or c ollectio n of any tax imposed by this title, who willfully fails to pay such tax, make such return, keep such records, or supply such inormation, at the time or times required by law or regulations, shall, in addition to other penalties provided by law, be guilty of a misdemeanor an d, upon conviction thereof, be fined not more than $10,000, or impris- oned for not more than one year, or both, together with the costs of prosecution. (b) Any person who willfully attempts in any manner to evade or defeat any tax imposed by this title or the payment thereof, shall, in addition to o ther penalties p rovided by law, be guilty of a fe lony and; on con victi on th ereof, be f ined not more than $10,000, or imprisoned for not more than five years, or both, together with the costs of prosecu tion. SEC. 526. TRANSFERRED ASSETS. . (a) METHOD OF COLLECTION .-The amounts of the following liabil- ities shall, except as hereinafter in this section provided, be assessed, collec ted, and paid in the same m anner and subje ct to the s ame provisions and limitations as in the case of a deficiency in the tax imposed by this title (including the provisions in case of delinquency in payment after notice and demand, the provisions authorizing dis- traint and proceedings in court for collection, and the provisions prohibiting claims and suits for refunds)