Page:United States Statutes at Large Volume 52.djvu/555

 PUBLIC LAWS-CH. 289-MAY 28, 1938 his property therefrom, or to conceal himself or his property therein, or to do any other act tending to prejudice or to render wholly or partly ineffectual proceedings to collect the tax for the taxable year then last past or the taxable year then current deniefor payndn, unless such proceedings be brought without delay, the Com- etc. missioner shall declare the taxable period for such taxpayer immediately terminated and shall cause notice of such finding and declaration to be given the taxpayer, together with a demand for immediate payment of the tax for the taxable period so declared terminated and of the tax for the preceding taxable year or so much of such tax as is unpaid, whether or not the time otherwise allowed by law for filing return and paying the tax has expired; and such taxes shall thereupon become dPresumfptive evi- immediately due and payable. In any proceeding in court brought to enforce payment of taxes made due and payable by virtue of the provisions of this section the finding of the Commissioner, made as herein provided, whether made after notice to the taxpayer or not, shall be for all purposes presump- tive evidence of the taxpayer s design. idooation in liq - (2) COBPORATION IN LIQUIDATION. -If the Commissioner finds that the collection of the tax of a corporation for the current or last preceding taxable year will be jeopardized by the dis- tribution of all or a portion of the assets of such corporation in the liquidation of the whole or any part of its capital stock, the Commissioner shall declare the taxable period for such tax- payer immediately terminated and shall cause notice of such finding and declaration to be given the taxpayer, together with a demand for immediate payment of the tax for the taxable period so declared terminated and of the tax for the last pre- ceding taxable year or so much of such tax as is unpaid, whether or not the time otherwise allowed by law for filing return and paying the tax has expired; and such taxes shall thereupon forpay- become immediately due and payable. menty or - (b) SECURrIT FOE PAYMENT.-A taxpayer who is not in default in making any return or paying income, war-profits, or excess-profits tax under any Act of Congress may furnish to the United States, under regulations to be prescribed by the Commissioner, with the approval of the Secretary, security approved by the Commissioner that he will duly make the return next thereafter required to be Condione. P filed and pay the tax next thereafter required to be paid. The Commissioner may approve and accept in like manner security for return and payment of taxes made due and payable by virtue of the provisions of this section, provided the taxpayer has paid in full all other income, war-profits, or excess-profits taxes due from him under any Act of Congress. orcementonapproval (C) SAME-EXEMPTION FROM SECTION. -If security is approved and ofsecurity. accepted pursuant to the provisions of this section and such further or other security with respect to the tax or taxes covered thereby is given as the Commissioner shall from time to time find necessary and require, payment of such taxes shall not be enforced by any proceedings under the provisions of this section prior to the expira- tion of the time otherwise allowed for paying such respective taxes. (d) CITZENS.-In the case of a citizen of the United States or of a possession of the United States about to depart from the United States the Commissioner may, at his discretion, waive any or all of the requirements placed on the taxpayer by this section. Departure of alien. (e) DEPRTuRE OF ALTEN. -No alien shall depart from the United States unless he first procures from the collector or agent in charge 514 [52 STAT.

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