Page:United States Statutes at Large Volume 52.djvu/583

 PUBLIC LAWS-CH. 289-MAY 28, 1938 Deficiency. Ante, p. 541. Nonpayment ofpro- rated deficiency. Ante, p. 536. Filing of jeopardy bond. Ante, p. 537. Time extended for payment of tax shown on return. Interest. Ante, p. 479. Time extended for payment of defciency. Interest for period of extension. If not paid. Interest in cam of Jeopardy assossments. Ante, p. 638. If amount of defi- ciency not paid in full. Bankruptcy and re- ceiverships. Interest, if unpaid portion of claim allowed not paid on demand. Ante, p. 538. (b) DEFCIENCy.- 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 pro- vided 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 col- lected 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) FILING OF JEOPARDY BOND.-If a bond is filed, as provided in section 273, the provisions of subsection (b) of this section shall not apply to the amount covered by the bond. SEC. 295. TIME EXTENDED FOR PAYMENT 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 pay- ment until it is paid, and no other interest shall be collected on such unpaid amount for such period. SEC. 297. INTEREST IN CASE OF JEOPARDY ASSESSMENTS. In the case of the amount collected under section 273 (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 of the amount collected in excess of the amount of the jeopardy assessment, interest as provided in section 292. If the amount included in the notice and demand from the collector under section 273 (i) is not paid in full within ten days after such notice and demand, then 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. SEC. 298. BANKRUPTCY AND RECEIVERSHIPS. If the unpaid portion of the claim allowed in a bankruptcy or receivership proceeding, as provided in section 274, is not paid in full within ten days from the date of notice and demand from the collector, then there shall be collected as a part of such amount interest upon the unpaid portion thereof at the rate of 6 per centum per annum from the date of such notice and demand until payment. 542 [52 STAT.

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