Page:United States Statutes at Large Volume 65.djvu/522

 488

PUBLIC LAW 183—OCT. 20, 1951

[65 STAT.

clause (1) of the first sentence of section 115(a) accumulated after the beginning of such uninterrupted period, but such amount shall not exceed an amount which bears the same ratio to 85' per centum of such dividends received out of such accumulated earnings or profits as the gross income of such foreign corporation from sources within the United States for the portion of such uninterrupted period ending at the beginning of such taxable year bears to its gross income from all sources for such portion of such uninterrupted period. For determination of earnings or profits distributed in any taxable iu.1:c:§ii5(b). year, see section 115(b). " ^u^scsuo ^ ^ TECHNICAL AMENDMENT.—Section 119(a)(2)(B) (relating ^^ • • to rules as to source of income in the case of dividends) is hereby amended by inserting before the semicolon at the end thereof the following: "to the extent exceeding the amount which is 100/85ths of Ante, p. 487. ^jjg amouut of the credit allowable under section 26(b) in respect of such dividends". (c) EFFECTIVE DATE.—The amendments made by this section shall be applicable only with respect to taxable years beginning after December 31, 1950. SEC. 312. JOINT RETURN AFTER FIUNG SEPARATE RETURN. 26 u.*s. a § 51. (a) CHANGE OF ELECTION.—Section 51 of the Internal Revenue Code Ante,p.m. (relating to making of individual returns) is hereby amended by adding at the end mereof the following new subsection: " (g) JOINT RETURN AFTER FILING SEPARATE RETURN.—

"(1) IN GENERAL.—If an individual has filed a separate return for a taxable year for which a joint return could have been made by him and his spouse under subsection (b) of this section, and the time prescribed by law for filing the return for such taxable year has expired, such individual and his spouse may nevertheless make a joint return for such taxable year. A joint return filed by the husband and wife in such a case shall constitute the return of the husband and wife for such taxable year, and all payments, credits, refunds, or other repayments made or allowed with respect to the separate return of either spouse for such taxable year shall be taken into account in determining the extent to which the tax based upon the joint return has been paid. " (2) PAYMENTS REQUIRED BEFORE JOINT RETURN CAN BE MADE.—

53 Stat. 82. 26 U. 8. C. §272 (a).

A joint return can be made under paragraph (1) only if there is paid in full at or before the time of the filing of the joint return— " (A) all amounts previously assessed with respect to either spouse for such taxable year; " (B) all amounts shown as the tax by either spouse upon his separate return for such taxable year; and " (C) any amount determined, at the time of the filing of the joint return, as a deficiency with respect to either spouse for such taxable year if, prior to such filing, a notice under section 272(a) of such deficiency has been mailed. «/o\

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" (3) T I M E FOR MAKING JOINT RETURN.—^A joint return cannot be made under paragraph (1)— " (A) after the expiration of three years from the last date prescribed by law for filing the return for such taxable year (determined without regard to any extension of time granted to either spouse); " (B) after there has been mailed to either spouse, with respect to such taxable year, a notice of deficiency under section 272(a), if the spouse, as to such notice, files a petition

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