Act of 1924. keep such records as the Commissioner deems sufficient to show whether or not such person is liable to tax. SEC. 1002. (c) The Commissioner, with the approval of the Secretary, may by regulation prescribe that any return required by Titles IV, V, VI, or VII471 to be under oath may, if the amount of the tax covered thereby is not in excess of $10, be signed or acknowledged before two witnesses instead of under oath. SEC. 1002. (d) Any oath or affirmation required by the provisions of this Act or regulations made under authority thereof, may be administered by any officer authorized to administer oaths for general purposes by the law of the United States or of any State, Territory, or possession of the United States, wherein such oath or affirmation is administered, or by any consular officer of the United States. EXAMINATION OF BOOKS AND SEC. 1004. The Commissioner, SEC. 1308. That the Commis- SEC. 1305. [3] The Commisfor the purpose of ascertaining sioner, for the purpose of ascersioner, for the purpose of ascerthe correctness of any return or taining the correctness of any taining the correctness of any for the purpose of making a re- return or for the purpose of return or for the purpose of turn where none has been made, making a return where none has making a return where none has is hereby authorized, by any rev- been made, is hereby authorized, been made, is hereby authorized, enue agent or inspector desig- by any revenue agent or inspec- by any revenue agent or inspecnated by him for that purpose, tor designated by him for that tor designated by him for that to examine any books, papers, purpose, to examine any books, purpose, to examine any books, records, or memoranda bearing papers, records, or memoranda papers, records or memoranda upon the matters required to be bearing upon the matters re-bearing upon the matters reincluded in the return, and may quired to be included in the quired to be included in the rerequire the attendance of the return, and may require the at-turn, and may require the person rendering the return or tendance of the person render- attendance of the person renderof any officer or employee of ing the return or of any officer ing the return or of any officer such person, or the attendance or employee of such person, or or employee of such person, or of any other person having the attendance of any other perknowledge in the premises, and son having knowledge in the may take his testimony with refpremises, and may take his testierence to the matter required by mony with reference to the matlaw to be included in such reter required by law to be turn, with power to administer included in such return, with oaths to such person or persons. power to administer oaths to such person or persons. the attendance of any other per- 471 Titles IV, V, VI, and VII, pp. 386-392. 472 The court on application by the U. S. will order the employees and agents of a national bank to testify as to entries made on the books of the bank recording deposits, investments and dealings of an individual who owes income taxes to the United States, where the bill alleges that such individual has not made a full, true and correct return of income for a specified year or years, that the books of the bank containing the accounts of the individual will be of material assist Act of 1917. Act of 1916. Act of 1913. ance to the U. S. in arriving at the true income, that the summons has been served on the proper officer of the bank to appear and testify and produce the books of the bank before the duly authorized internal revenue agent, and that such officer refuses to appear, testify or produce such books. U. S. v. First National Bank of Mobile, (D. C., S. D. Ala. 1924) 295 Fed. 142. SEC. 1005. No taxpayer shall SEC. 1309. That no taxpayer be subjected to unnecessary ex- shall be subjected to unnecessary aminations or investigations, and examinations or investigations, only one inspection of a tax- and only one inspection of a taxpayer's books of account shall payer's books of account shall be be made for each taxable year made for each taxable year ununless the taxpayer requests less the taxpayer requests otherotherwise or unless the Commis- wise or unless the Commissioner, sioner, after investigation, noti- after investigation, notifies the fies the taxpayer in writing that taxpayer in writing that an adan additional inspection is nec-ditional inspection is necessary. essary. SEC. 1006. If after a deter- SEC. 1312. That if after a demination and assessment in any termination and assessment in case the taxpayer has paid in any case the taxpayer has withwhole any tax or penalty, or ac-out protest paid in whole any cepted any abatement, credit, or tax or penalty, or accepted any refund based on such determina- abatement, credit, or refund tion and assessment, and an based on such determination and agreement is made in writing assessment, and an agreement is between the taxpayer and the made in writing between the Commissioner, with the approval taxpayer and the Commissioner, of the Secretary, that such de- with the approval of the Secretermination and assessment shall tary, that such determination be final and conclusive, then (ex- and assessment shall be final and cept upon a showing of fraud conclusive, then (except upon a or malfeasance or misrepresenta- showing of fraud or malfeasance tion of fact materially affecting or misrepresentation of fact mathe determination or assessment terially affecting the determinathus made) (1) the case shall tion or assessment thus made) not be reopened or the deter- (1) the case shall not be remination and assessment modi-opened or the determination and fied by any officer, employee, or agent of the United States, and (2) no suit, action, or proceeding to annul, modify, or set aside such determination or assessment shall be entertained by any court of the United States. assessment modified by any offi- ADMINISTRATIVE REVIEW. ADMINISTRATIVE REVIEW. SEC. 1007. In the absence of SEC. 1313. That in the absence fraud or mistake in mathemat- of fraud or mistake in matheical calculation, the findings of matical calculation, the findings facts in and the decision of the of facts in and the decision of Commissioner upon (or in case the Commissioner upon (or in the Secretary is authorized to case the Secretary is authorized approve the same, then after to approve the same, then after such approval) the merits of any such approval) the merits of any claim presented under or au- claim presented under or authorized by the internal-revenue horized by the internal-revenue laws shall not, except as pro- laws shall not be subject to revided in section 900, be subject view by any other administra Act of 1918. to review by any other adminis- tive officer, employee, or agent of SEC. 1008. (a) In case a reg- SEC. 1314. That in case a regulation or Treasury decision re- ulation or Treasury decision relating to the internal-revenue lating to the internal revenue laws, made by the Commissioner laws made by the Commissioner or the Secretary, or by the Com- or the Secretary, or by the Commissioner with the approval of missioner with the approval of the Secretary, is reversed by a the Secretary, is reversed by a subsequent regulation or Treas- subsequent regulation or Treasury decision, and such reversal ury decision, and such reversal is not immediately occasioned or is not immediately occasioned or required by a decision of a court required by a decision of a court of competent jurisdiction, such of competent jurisdiction, such subsequent regulation or Treas- subsequent regulation or Treasury decision may, in the discre- ury decision may, in the discretion of the Commissioner, with tion of the Commissioner, with the approval of the Secretary, the approval of the Secretary, be applied without retroactive be applied without retroactive effect. SEC. 1008. (b) No tax shall be levied, assessed, or collected under the provisions of Title VI478 of this Act on any article sold or leased by the manufacturer, producer, or importer, if at the time of the sale or lease there was an existing ruling, regulation, or Treasury decision holding that the sale or lease of such article was not taxable, and the manufacturer, producer, or importer parted with possession or ownership of such article, relying upon the ruling, regulation, or Treasury decision. LIMITATION ON ASSESSMENTS AND effect. ASSESSMENTS. SEC. 1009. (a) Except as pro- SEC. 1322. That all internalvided in sections 277,474 278,475 revenue taxes, except as pro310,476 and 311, and subdivi- vided in section 250478 of this sions (b) and (c) of this sec- Act, shall, notwithstanding the tion, all internal-revenue taxes provisions of section 3182479 of shall, notwithstanding the provi- the Revised Statutes or any sions of section 318279 of the other provision of law, be asRevised Statutes or any other sessed within four years after provision of law, be assessed such taxes became due, but in within four years after such the case of fraud with intent to taxes became due, and no proceeding in court for the collection of such taxes shall be begun after the expiration of five years 473 Title VI, p. 390. 474 Sec. 277, p. 292. evade tax or willful attempt in 475 Sec. 278, p. 294. Act of 1918. |