Page:United States Statutes at Large Volume 52.djvu/621

 PUBLIC LAWS--CH. 289--MAY 28, 1938 44 Stat. 59. Jeopardy assess- ment, taxpayer. 47 Stat. 252. 26U.S.C.§563. Amount assessable before decision of Board. 47 Stat. 261. 44 Stat. 77 . 26U. .c. §472(c). Jeopardy assess- ment, executor. 44 stat. 75. 49 Stat. 1724; 48 Stat. 743; 47 Stat. 236; 46 Stat. 865; 44 stat. 60; 47 Stat. 252; 44 Stat. 78. 20 U. . C.C§ 273 (f), 472 (f, 563 (f; Supp. II. § 273. Reduction of bond if any portion of assessment abated. the making of the assessment or is subsequently filed, and the Board shall have jurisdiction to redetermine the entire amount of the deficiency and of all amounts assessed at the same time in connec- tion therewith." (b) Section 279 (c) of the Revenue Act of 1926 is amended to read as follows: "(c) The jeopardy assessment may be made in respect of a defi- ciency greater or less than that notice of which has been mailed to the taxpayer, despite the provisions of subdivision (f) of section 274 and whether or not the taxpayer has theretofore filed a petition with the Board of Tax Appeals. The Commissioner may, at any time before the decision of the Board is rendered, abate such assessment, or any unpaid portion thereof, to the extent that he believes the assessment to be excessive in amount. The Commissioner shall notify the Board of the amount of such assessment, or abatement, if the petition is filed with the Board before the making of the assessment or is subsequently filed, and the Board shall have jurisdiction to redetermine the entire amount of the deficiency and of all amounts assessed at the same time in connection therewith." (c) Section 514 (c) of the Revenue Act of 1932 is amended to read as follows: "(c) AMOUNT ASSESSABLE BEFORE DECISION OF BoARD. - The jeop- ardy assessment may be made in respect of a deficiency greater or less than that notice of which has been mailed to the donor, despite the provisions of section 513 (f) prohibiting the determination of additional deficiencies, and whether or not the donor has theretofore filed a petition with the Board of Tax Appeals. The Commissioner may, at any time before the decision of the Board is rendered, abate such assessment, or any unpaid portion thereof, to the extent that he believes the assessment to be excessive in amount. The Commis- sioner shall notify the Board of the amount of such assessment, or abatement, if the petition is filed with the Board before the making of the assessment or is subsequently filed, and the Board shall have jurisdiction to redetermine the entire amount of the deficiency and of all amounts assessed at the same time in connection therewith." (d) Section 312 (c) of the Revenue Act of 1926 is amended to read as follows: "(c) The jeopardy assessment may be made in respect of a defi- ciency greater or less than that notice of which has been mailed to the executor, despite the provisions of subdivision (f) of section 308 and whether or not the executor has theretofore filed a petition with the Board of Tax Appeals. The Commissioner may, at any time before the decision of the Board is rendered, abate such assessment, or any unpaid portion thereof, to the extent that he believes the assessment to be excessive in amount. The Commissioner shall notify the Board of the amount of such assessment, or abatement, if the petition is filed with the Board before the making of the assessment or is subsequently filed, and the Board shall have jurisdiction to redetermine the entire amount of the deficiency and of all amounts assessed at the same time in connection therewith." (e) Section 273 (f) of the Revenue Act of 1936, the Revenue Act of 1934, the Revenue Act of 1932 and the Revenue Act of 1928, and section 279 (f) of the Revenue Act of 1926, section 514 (f) of the Revenue Act of 1932, and section 312 (f) of the Revenue Act of 1926, are amended by inserting at the end thereof the following new sentence: "If any portion of the jeopardy assessment is abated by the Commissioner before the decision of the Board is rendered, the bond shall, at the request of the taxpayer, be proportionately reduced." 580 [52 STAT.

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