Page:United States Statutes at Large Volume 53 Part 1.djvu/165

 cordance with law, to the court before which the bankruptcy or receivership proceeding is pending, despite the pendency of proceed- ings for the redetermination of the deficiency in pursuance of a petition to the Board; but no petition for any such redetermination shall be filed with the Board after the adjudication of bankruptcy or the appointment of the receiver. (b) UNPAID CLAIMs.-Any portion of the claim allowed in such bankruptcy or receivership proceeding which is unpaid shall be paid by the donor upon notice and demand from the collector after the termination of such proceeding, and may be collected by distraint or proceeding in court within six years after termination of such proceeding. Extensions of time for such payment may be had in the same manner and subject to the same provisions and limitations as are provided in sections 1012 (i), 1020 (b), and 1023 (b) (3) in the case of a deficiency in a tax imposed by this chapter. SEC. 1016. PERIOD OF LIMITATION UPON ASSESSMENT AND COLLEC- TION. (a) GENERAL RJLE. -Except as provided in subsection (b), the amount of taxes imposed by this chapter shall be assessed within three years after the return was filed, and no proceeding in court without assessment for the collection of such taxes shall be begun after the expiration of three years after the return was filed. (b) EXCEPTIONS. - (1) FALSE RETURN OR NO RETURN.- In the case of a false or fraudu- lent return with intent to evade tax or of a failure to file a return the tax may be assessed, or a proceeding in court for the collection of such tax may be begun without assessment, at any time. (2) COLLECTION AFTER ASSESSMENT. -Where the assessment of any tax imposed by this chapter has been made within the statutory period of limitation properly applicable thereto, such tax may be collected by distraint or by a proceeding in court, but only if begun (1) within six years after the assessment of the tax, or (2) prior to the expiration of any period for collection agreed upon in writing by the Commissioner and the donor. SEC. 1017. SUSPENSION OF RUNNING OF STATUTE. The running of the statute of limitations provided in section 1016 on the making of assessments and the beginning of distraint or a proceeding in court for collection, in respect of any deficiency, shall (after the mailing of a notice under section 1012 (a)) be suspended for the period during which the Commissioner is prohibited from making the assessment or beginning distraint or a proceeding in court (and in any event, if a proceeding in respect of the deficiency is placed on the docket of the Board, until the decision of the Board becomes final), and for 60 days thereafter. SEC. 1018. ADDITION TO THE TAX IN CASE OF DELINQUENT RETURN. For addition to the tax in case of failure to make and file a return required by this chapter within the time prescribed by law or prescribed by the Commissioner in pursuance of the law, see section 3612 (d) (1). SEC. 1019. ADDITIONS TO THE TAX IN CASE OF DEFICIENCY. (a) NEOLIGENCE. -If any part of any deficiency is due to negli- gence, or intentional disregard of rules and regulations but without intent to defraud, 5 per centum of the total amount of the deficiency (in addition to such deficiency) shall be assessed, collected, and paid in the same manner as if it were a deficiency, except that the provi- sions of section 1021, relating to interest on deficiencies, shall not be applicable. (b) FRAUD.- I f any part of any deficiency is due to fraud with intent to evade tax, then 50 per centum of the total amount of the deficiency (in addition to such deficiency) shall be so assessed, col- lected, and paid, in lieu of the 50 per centum addition to the tax pro- vided in section 3612 (d) (2). 98907-39-PT. I - --11 GIFT TAX 153

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