Page:United States Statutes at Large Volume 68A.djvu/798

 758

INTERNAL REVENUE CODE OF 1954

(B) with respect to taxable years ending on or after December 31, 1954, two equal installments. (2) ESTATES OF DECEDENTS.—A decedent's estate subject to the tax imposed by chapter 1 may elect to pay such tax in four equal installments. (3) EMPLOYERS SUBJECT TO UNEMPLOYMENT TAX.—An employer subject to the tax imposed by section 3301 may elect to pay such tax in four equal installments. (b) D A T E S PRESCRIBED FOR PAYMENT OF INSTALLMENTS.— (1) F O U R INSTALLMENTS.—In any case (other than payment

of estimated income tax) in which the tax may be paid in four installments, the first installment shall be paid on the date prescribed for the payment of the tax, the second installment shall be paid on or before 3 months, the third installment on or before 6 months, and the fourth installment on or before 9 months, after such date. (2) T w o INSTALLMENTS.—In any case (other than payment of estimated income tax) in which the tax may be paid in two installments, the first installment shall be paid on the date prescribed for the payment of the tax, and the second installment shall be paid on or before 3 months after such date. (c) PRORATION OP D E F I C I E N C Y TO INSTALLMENTS.—If an election has been made to pay the tax imposed by chapter 1 in installments and a deficiency has been assessed, the deficiency shall be prorated to such installments. Except as provided in section 6861 (relating to jeopardy assessments), that part of the deficiency so prorated to any installment the date for payment of which has not arrived shall be collected a t the same time as and as part of such installment. That part of the deficiency so prorated to any installment the date for payment of which has arrived shall be paid upon notice and demand from the Secretary or his delegate. (d) ACCELERATION OF PAYMENT.—If any installment (other than an installment of estimated income tax) is not paid on or before the date fixed for its payment, the whole of the unpaid tax shall be paid upon notice and demand from the Secretary or his delegate. SEC. 6153. INSTALLMENT PAYMENTS OF ESTIMATED INCOME TAX BY INDIVIDUALS. (a) GENERAL RULE. — The amount of estimated tax (as defined in

section 6015(c)) with respect to which a declaration is required under section 6015 shall be paid as follows: (1) If the declaration is filed on or before April 15 of the taxable year, the estimated tax shall be paid in four equal installments. The first installment shall be paid at the time of the filing of the declaration, the second and third on June 15 and September 15, respectively, of the taxable year, and the fourth on January 15 of the succeeding taxable year. (2) If the declaration is filed after April 15 and not after June 15 of the taxable year, and is not required by section 6073(a) to be filed on or before April 15 of the taxable year, the estimated tax shall be paid in three equal installments. The first installment shall be paid at the time of the filing of the declaration, the second

§ 6152(a)(1)(B)

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