Page:United States Statutes at Large Volume 49 Part 1.djvu/1772

 74T H C ONGRESS. SESS. II. CH. 690 . JI_'NE 22, 1936. 1727 Interest and addi- tions to tax. Failure to file re- turn. Add iti on al tax im- posed. Exception. If failure not willful neglect. Collection. In lie u of former levy . R.S.,sec.3176,p.610. U.S.C.,p.1160. Supp lement M-Inter est and Addit ions to the Tax SEC. 291. FAILURE TO FILE RETURN. In case of any failure to make and file return required by this title, within the time prescribed by law or prescribed by the Commissioner in pursuance of law, unless it is shown that such failure is due to reasonable cause and not due to willful neglect, there shall be added to the tax : 5 per centum if the failure is for not more than thirty days with an additional 5 per centum for each additional thirty da ys or fracti on the reof d uring which such f ailure conti nues, not exceeding 25 per centum in the aggregate. The amount so added to any tax shall be collected at the same time and in the same man- ner and as a part of the tax unless the tax has been paid before the discovery of the neglect, in which case the amount so added shall be collected in the same manner as the tax. The amount added to the tax under this section shall be in lieu of the 25 per centum addition to the tax provided in section 3176 of the Revised Statutes, as amended. SEC. 292. INTEREST ON DEFICIENCIES. Interest on deficien- cies. Interest upon the amount determined asa deficiency shall be Assessment and rate. asse ssed at the same time as the def iciency, shall be paid upon not ice 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 date pre- scribed for the payment of the tax (or, if the tax is paid in installments, from the date prescribed for the payment of the first In case of waiver . installment) to the date the deficiency is assessed, or, in the case of Ante, p. 1722. a waiver under section 272 (d), to the thirtieth day after the filing of such waiver or to the date the deficiency is assessed whichever is the earlier. SEC. 293. ADDITIONS TO THE TAX IN CASE OF DEFICIENCY. Additions to tax in case of deficiency. (a) NEGLIGENCE.-If any part of any deficiency is due to negli- If due t o negli gence. gence, or intentional disregard of rules and regulations but without intent to defraud, 5 per centum of the total amount of the deficiency (in addition to such deficiency) shall be assessed, collected, and paid in the same manner as if it were a deficiency, except that the pro- visi ons of s ection 2 72 (i), relating to the prorating of a deficiency, Ante, p. 1723. and of secti on 292, relating to inte rest on deficie ncies, s hall not be applicable. (b) FRAUD .-If any part of any deficiency is due to fraud with Fraud . intent to evade tax, then 50 per centum of the total amount of the defi ciency ( in addit ion to s uch defi ciency) shall b e so ass essed, c ol- lected, and paid, in lieu of the 50 per centum addition to the tax pro vided in sec tion 3 176 of the R evised Statu tes, a s amen ded. SEC. 294. ADDITIO NS TO THE TAX IN CAS E OF NO NPAYMEN T. Additions to tax in ease of no npayment. (a) TAX SH OWN ON RETURN .- (1) GENERAL RULE .-Where the amount determined by the tax- Interest . payer as the tax imposed by this title, or any installment thereof, or any part of such amount or installment, is not paid on or before the date prescribed for its payment, there shall be collected as a part of the tax, interest upon such unpaid amount at the rate of 6 per centum per annum from the date prescribed for its payment until it is paid. If tax and interest (2) IF EXTENSION GRANTED .-Where an extension of time for not paid in full when payment of the amount so determined as the tax by the taxpayer, e xtens ion granted. or any installment thereof, has been granted, and the amount the