Page:United States Statutes at Large Volume 49 Part 1.djvu/1784

 74 TH CONGRESS. SESS. II. CSI. 690. JUNE 22, 1936. SEC. 504. TAXABLE YEARS TO WHICH TITLE IS APPLICABLE. The taxes imposed by this title shall apply only with respect to taxable years ending during the calendar year 1935 and to subse- quent taxable years. SEC. 505. APPLICATION OF TITLE TO POSSESSIONS. With respect to the following income, the tax under this title shall be in force in any possession of the United States (including the Philippine Islands) ; such tax shall (without regard to the residence or citizenship or place of organization of the taxpayer) be collected by the appropriate internal-revenue officers of such possession ; and the proceeds thereof shall accrue to the general government of such possession : (a) Any income specified in sub- section (a) (1) or (3) of section 501 if the Federal excise tax with respect to the articles in question accrued in such possession ; and (b) any income specified in subsection (a) (2) of section 501 if the reimbursement specified therein relates to articles sold in such posses- sion by the taxpayer under this title and if the geographical scope of the Federal excise tax in question extended to such possession. Income taxable as provided in this section shall not be otherwise taxable under this title. In applying section 501 to such income. the gross income and deductions shall be determined in accordance with the Federal Revenue Act applicable to the taxable year. In applying section 502 to such income, income taxes paid to such possession shall be deemed to be Federal income taxes. SEC. 506. CLOSING AGREEMENTS. Any person who is liable for the tax imposed by this title and who has filed any claim or claims for refund of any amount paid or col lected as tax under the Agric ultur al Adj ustmen t Act, as amended, may apply to the Commissioner of Internal Revenue for an adjustment of such liability for tax in conjunction with such claim or claims for refund, and thereafter, the Commissioner, for such purp oses, ma y, in hi s discre tion, co nsider such lia bility a nd such clai m or cla ims as o ne case and, in his dis cretion, may ent er in to a written agreement with such person for the settlement of such case by such payment by, or refund to, such person as may be specified in such agreement. Such agreement shall be a final settle- ment of the liability for tax and the claim or claims for refund covered by such agreement, except in case of fraud, malfeasance, or misrepres entation of a ma terial f act. I n the absence of fraud or mistake i n mathem atical c alculati on, any action taken or any con - sideration given by the Commissioner pursuant to this section shall not be subject to review by any court, or any administrative, or accounting officer, employee, or agent of the United States. TITLE IV-EXPORT, CHARITABLE, ETC ., REFUNDS AND FLOOR STOCKS ADJUSTMENT UNDER AGRICULTURAL ADJUSTMENT ACT SEC. 601. REFUNDS UNDER AGRICULTURAL ADJUSTMENT ACT ON EXPORTS, DELIVERIES FOR CHARITABLE DISTRIBUTION OR USE, ETC. (a) The provisions of sections 10 (d), 15 (a), 15 (c), 16 (e) (1), 16 (e) (3), and 17 (a) of the Ag ricul tural Adjust ment Act, as amended, are he reby ree nacted b ut only for the purpose of allow ing refunds in accordance therewith in cases where the delivery for Ante, p. 1734. Ante, p. 1738. 173 9 Taxable y ears to which ti tle applicable. Application of title to possessions. Tax in for ce in United States posses- sions (including Philip . pines) . Clos ing a greem ents . Se ttl eme nt of t ax- payer's liability. Refund claims . Agreement to be fi nal settl ement ; ex cept ions. Title IV-Export, Charitable, Etc ., Re- funds And Floor Stocks Adjustment Under Agricultural Adjust- ment Act. Provisions of desig- nated Act reenacted. U. S. C., p. 155; Supp.1,p.16.