Page:United States Statutes at Large Volume 49 Part 1.djvu/1773

 1728 In tere st, if d efic ienc y, etc. , not paid on notice and demand. Ante, p. 1727. Nonpayment of p ro- rated inst allme nt. Ante, p. 1723. In teres t rat e pay able by fiduciaries. Not app licable to a mount cove red by jeopardy bond. Ante, p. 1723. Ti me ex tende d for pay men t of tax sho wn on return . Interest. Ante, p. 1672. Ti me ex tende d for paying deficiency. Interest for period of extension. Add ition al, if not paid. Interest on jeopardy assessments. Rate of, on amount collected. Ante, p. 172 4. 74TH C ONGRESS. SESS. II. CH. 690. JUNE 22, 1936. time for payment of which has been extended, and the interest thereon determined under section 295, is not paid in full prior to the expiration of the period of the extension, then, in lieu of the interest provided for in paragraph (1) of this subsection, interest at the rate of 6 per centum per annum shall be collected on such unpaid amount from the date of the expiration of the period of the extension until it is paid. (b) DEFICIENcY .-Where a deficiency, or any interest or additional amounts assessed in connection therewith under section . 292, or under section 293, or any addition to the tax in case of delinquency provided for in section 291, is not paid in full within ten 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 of 6 per centum per annum from the date of such notice and demand until it is paid. If any part of a deficiency prorated to any unpaid installment under section 272 (i) is not paid in full on or before the date prescribed for the payment of such installment, there shall be collected as part of the tax interest upon the unpaid amount at the rate of 6 per centum per annum from such date until it is paid. (c) FIDUCIARIES .-For any period an estate is held by a fiduciary appointed by order of any court of competent jurisdiction or by will, ther e shall be collected inte rest at the rate of 6 per centum per annum in lieu of the interest provided in subsections (a) and (b) of this section. (d) FILING OF JEOPARDY BOND .-If a bond is filed, as provided in section 273, th e provis ions of subsect ions (b ) and ( c) of th is section shall not apply to the amount covered by the bond. SEC. 295. TIME EXTENDE D FOR P AYMENT OF TAX SHOWN ON RETURN. If the time for payment of the amount determined as the tax by the taxpayer, or any installment thereof, is extended under the authority of section 56 (c), there shall be collected as a part of such amount, interest thereon at the rate of 6 per centum per annum from the date when such payment should have been made if no extension had been granted, until the expiration of the period of the extension. SEC. 296. TIME EXTENDED FOR PAYMENT OF DEFICIENCY. If the time for the payment of any part of a deficiency is extended, there shall be 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 extension, and no other interest shall be collected on such part of the deficiency for such period. If the part of the deficiency the time for payment of which is so extended 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 6 per centum per annum for the period from the time fixed by the terms of the extension for its payment until it is paid, and no other interest shall be collected on such unpaid amount for such period. SEC. 297. INTE REST IN CASE OF JEOPARDY AS SESSMENTS. In the case o f the am ount co llected under s ection 2 73 (i) there 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 amount from the date of the jeopardy notice and demand to the date of notice and demand under section 273 (i), or, in the case