Page:United States Statutes at Large Volume 47 Part 1.djvu/311

 72„l CONGRESS. SESS. I. CH. 209. JUNE 6, 1932 . SEC. 1104. DATE OF ALLOWANC E OF REFUND OR CREDIT. W here the Commissioner has (before or aft er the enac tmen t of this Ac t) signed a schedule of overassessments in respect of any internal revenue tax imposed by this Act or any prior revenue Act, the date on which he first signed such schedule (if after May 28, 1928) shall be considered as the date of allowance of refund or credit in respect of such tax. SEC. 1105. JEOPARDY ASSESSMENT. (a) If the Commissioner finds that a person liable for tax (other than income tax) under any provision of the internal-revenue laws designs quickly to depart from the United States or to remove his propert y theref rom, or t o concea l himsel f or his propert y therei n, or to do any other act tending to prejudice or to render wholly or partly ineffectual proceedings to collect such tax unless such proceedings be brought without delay, the Commissioner shall cause notice of such finding to be given such person, together with a demand for an immediate return and immediate payment of su ch ta x, and such tax shall thereupon become immediately due and payable. (b) If such person (1) is not in default in making any return or paying any tax under the internal-revenue laws, and (2) furnishes to the United States, under regulations to be prescribed by the Commis- sioner with the approval of the Secretary, security approved by the Commissioner that he will duly return and pay the tax to which the Commissioner's finding relates, then such tax shall not be payable prior to the time otherwise fixed for payment. SEC. 1106. R EFUN DS OF MIS CELL ANEO US TAXES. (a) Subsection (a) of section 3228 of the Revised Statutes, as amended, is amended by adding at the end thereof the following : " The amount of the refund (in the case of taxes other than income, war-pr ofits, e xcess-pr ofits, e state, a nd gift t axes) sh all not exceed the portion of the tax, penalty, or sum paid during the four years immediately preceding the filing of the claim, or if no claim was filed, then during the four years immediately preceding the allow- ance of the refund." (b) The amendment made by subsection (a) of this section to sec- tion 3228 of the Revised Statutes shall not bar from allowance a claim for refund filed prior to the enactment of this Act which but for such enactment would have been allowable. SEC. 1107. ADJUSTMENTS OF CARRIERS' TAX LIABILITIES TO CON- FO RM TO RECAPT URE PAY MENTS. The Interstate Commerce Commission shall, as soon as practicable after its order with respect to the amount recoverable from any car- rier under the provisions of section 15a of the Interstate Commerce Act, as amended, for any year or portion thereof has become final, and such amount, if any, has been paid, certify to the Commissioner of Internal Revenue the amount so paid. If the amount so paid by such carrier differs from the amount allowed as so recoverable in computing the income or excess profits tag liabilities for any taxable period of such carrier, or of any corporation whose income or excess profits tax liability is affected, te Commissioner of Internal Revenue shall determine any deficiency or overpayment attributable to such difference. Notwithstanding any other provision of la w, (1) any such deficiency may be assessed within two years from the date of such certification, and,, if so assessed, shall be paid upon notice and demand from the collector, and (2) any such over paym ent may be credited or refunded within two years from the date of such certifica- 287 Da te of allowance of refund or credit. Considered as al. lowed when schedule of ove rass ess meol s si gned. Jeopardy assessment. Immediate collection under, if delay jeopard- izes due date collectio n. Notice to he given and demand made. Pos tponemen t a lien se curi ty pro'ided, etc. Miscellaneous tax es. Vol.4:3, p 34 2, 'ol. 44, p 115. %mount of ref und hmited. Prior claims for re . f unds not bar red. Carriers' Tax Lia- h!hties. Adjustments of, to conform to recapture payments. Vol .41, p. 488, amend- ed. Where payment dif- fers horn that all oƒ ed as reco' erable. To he de termined by Commissioner. Ass es sme nt of defi- ciency. Refund of overpay- men t. I