Page:United States Statutes at Large Volume 48 Part 1.djvu/768

 742 73d C ONGRESS. SESS. II. CH. 277. MAY 10, 1934 . amoun t of the de ficie ncy, notice of w hich has be en ma iled to the taxpayer, and to determine whether any penalty, additional amount or addition to the tax should be assessed-if claim therefor is asserted by the Commissioner at or before the hearing or a rehearing. (f) FURTHER DEFICIENCY LETTERS RESTRICTED .-If the C omm is- sioner has mail ed to th e taxpay er notic e of a d eficienc y as pro vided in subs ection ( a) of th is secti on, and the taxp ayer fil es a pet ition with the Board within the time prescribed in such subsection, the Commissioner shall have no right to determine any additional deficiency in respect of the same taxable year, except in the case of fraud, and except as provided in subsection (e) of this section, relating to assertion of greater deficiencies before the Board, or in Pest, p. Mathematical 743 . error section 273(c), relating to the making of jeopardy assessments. If Mathem not considered a notice the taxpayer is notified that, on account of a mathematical error of deficiency. appearing upon the face of the return, an amount of tax in excess of th at shown upon the return is due, and that an assessment of the tax has been or will be made on the basis of what woul d have been the correct amount of tax but for the mathematical error, such notice shall no t be con sidered (for the purpose s of thi s subsec tion, or of subs ection (a) of th is sec tion, proh ibitin g ass essme nt and collect ion unti l notice of defi ciency h as been mailed, or of se ction 322(c), prohibiting credits or refunds after petition to the Board of Tax Appeals) as a notice of a deficiency, and the taxpayer shall have no right to file a petition with the Board based on such notice, nor shall such assessment or collection be prohibited by the provi- sions of subsection (a of this section. (g) JURISDICTION wER OTHER TAXABLE YEARS .-The Bo ard in redetermining a deficiency in respect of any taxable year shall consider such facts with relation to the taxes for other taxable years as may be necessary correctly to redetermine the amount of such deficiency, but in so doing shall have no jurisdiction to determine whether or not the tax for any other taxable year has been overpaid or underpaid . (h) FINAL DECISIONS OF BOARD .-For the purposes of this title the date on which a decision of the Board becomes final shall be deter- mined acco rding to the provisions of secti on 100 5 of the R evenue Act of 1926 . (i) PRORATING OF DEFICIENCY ro INSTALLMENTS .-If the taxpayer has ele cted to pay the tax in i nstallme nts and a defici ency has been assessed, the deficiency shall be prorated to the four installments. Except as provided in section 273 (relating to jeopardy assess- ments), that part of the deficiency so prorated to any installment the date for payment of which has not arrived, shall be collected at the same time as and as part of such installment. That part of the deficiency so prorated to any installment the date for payment of which has arrive d, sh all b e paid upon noti ce and dema nd fr om the collector. (j) EXTENSION OF TIME FOR PAYME NT OF DEFICIENCIES. -W her e it is shown to the satisfaction of the Commissioner that the payment ofa defic iency upon the date prescribed for the paym ent t hereof will result in undue hardship to the taxpayer the Commissioner, with the approval of the Secretary (except where the deficiency is due to negligence, to intentional disregard of rules and regulations, or to fraud with intent to evade tax), may grant an extension for the payment of such deficiency or any part thereof for a period not Bond required. in excess of eighteen months, and, in exceptional cases, for a further period not in excess of twelve months. If an extension is granted, the Commissioner may require the taxpayer to furnish a bond in such amount, not exceeding double the amount of the deficiency, INCOME TAX. AS SESSME NT AND COLLECTIO N OF DEFICIEN- CIES-Contd. Cond iti on. Restriction hereafter on determining defi- ciency after notice . Exception . Post, p. 750. Credits or ref unds. Jurisdiction over other taxable years. Limi tat ion. Final decisions of Board. Vol.4i,p . 110 . Pro rat ing of de fi- ciency to installments. Extension for pay- ments allowed, to avoid undue hardship .