thenticated copy. (b) In the case of a credit sought for a tax accrued but not paid, the Commissioner may require as a condition precedent to the allowance of credit a bond from the taxpayer in addition to form 1116. If such a bond is required, form 1117 shall be used for it. It shall be in such penal sum as the Commissioner may prescribe, and shall be conditioned for the payment by the taxpayer of any amount of tax found due upon any redetermination of the tax made necessary by such credit proving incorrect, with such further conditions as the Commissioner may require. This bond shall be executed by the taxpayer, his agent or representative, as principal, and by sureties satisfactory to and approved by the Commissioner. See also section 1320 of the statute.

ART. 384. Redetermination of tax when credit proves incorrect.-In case credit has been given for taxes accrued, or a proportionate share thereof, and the amount that is actually paid on account of such taxes, or a proportionate share thereof, is not the same as the amount of such credit, or in case any tax payment credited is refunded in whole or in part, the taxpayer shall immediately notify the Commissioner. The Commissioner will thereupon redetermine the amount of the income tax of such taxpayer for the year or years for which such incorrect credit was granted. The amount of tax, if any, due upon such redetermination shall be paid by the taxpayer upon notice and demand by the collector. The amount of tax, if any, shown by such redetermination to have been overpaid shall be credited against any income, war profits or excess profits taxes, or installment thereof, then due from such taxpayer under any other return, and any balance of such amount shall be immediately refunded to him. See section 252 of the statute and articles 1031–1038.

P.H.

Art. 385 - Countries which do or do not satisfy the similar credit, requirement. Ÿ. INDIVIDUAL RETURNS. р. 3008 for T. 19.3060.

SEC. 223. That every individual having a net income for the taxable year of $1,000 or over if single or if married and not living with husband or wife, or of $2,000 or over if married and living with husband or wife, shall make under oath a return stating specifically the items of his gross income and the deductions and credits allowed by this title. If a husband and wife living together have an aggregate net income of $2,000 or over, each shall make such a return unless the income of each is included in a single joint return.

If the taxpayer is unable to make his own return, the return shall be made by a duly authorized agent or by the guardian or other person charged with the care of the person or property of such taxpayer. ART. 401. Individual returns.-Every individual whose net income, as defined in section 212 of the statute and articles 21-26, is $1,000 or over for the taxable year must make a return of income unless married and living with husband or wife as defined in article 303. The return shall be for his taxable year, whether calendar or fiscal.

Whether or not an individual is the head of a family or has dependents is immaterial in determining his liability to render a return. If an individual is a married person living with husband or wife, no return need be made where their aggregate net income is less than $2,000; but a separate return must be made by each of them, regardless of the amount of the individual income of each, where their aggregate net income is $2,000 or over, unless they join in a single return. The husband shall include in his return the income derived from services rendered by the wife or from the sale of products of her labor if she does not file a separate return or join with him in a return setting forth her income separately. For returns by partnerships see section 224 and articles 411 and 412; by fiduciaries see section 225 and articles 421-425; by personal service corporations see section 239 and article 624; and by other corporations see sections 239 and 240 and articles 621-626 and 631-638. See also section 227 and articles 441-448.

ART. 402. Form of return.-The return shall be on form 1040 (revised), except that it may be on short form 1040 A (revised) where the net income does not exceed $5,000 and the net income subject to the normal tax, that is, after applying the personal exemption and other credits, does not exceed $4,000. The forms are provided by the Commissioner and may be had from the collectors of the several districts. In the case of a person owning State, municipal, United States, farm loan, or War Finance Corporation bonds, his return shall contain a statement showing the number and amount of such obligations owned by him, the income received therefrom, and the other information called for in the form. See section 213 (b) (4) of the statute. The return may be made by an agent when by reason of illness, absence or nonresidence the person liable for the return is unable to make it, the agent assuming the responsibility for making the return and incurring liability to the specific penalties provided for erroneous, false or fraudulent returns. See section 253 and article 1041.

ART. 403. Return of income of minor.-An individual under 21 years of age or under the statutory age of majority where he lives, whatever it may be, is required to render a return of income if he has a net income of his own of $1,000 or over for the taxable year. If he is married see article 401. If the aggregate of the net income of a minor from any property which he possesses, and from any funds held in trust for him by a trustee or guardian, and from any earnings for his own use, is at least $1,000, a return as in the case of any other individual must be made by him or by his guardian or some other person charged with the care of his person or property for him. See article 422. If, however, a minor is dependent upon his parent, who appropriates or may appropriate his earnings, such earnings

income of the parent and not of the minor for the purpose of the rmal tax and surtax. In the absence of proof to the contrary a rent will be assumed not to have emancipated his minor child and ist include in his return any earnings of the minor.

ART. 404. Return of income of nonresident alien.-A nonresident en individual shall make or have made a full and accurate return form 1040 (revised) or form 1040 A (revised) of his income reved from sources within the United States, regardless of amount, less the tax on such income has been fully paid at the source. See tion 217 of the statute and articles 311-316. The responsible repsentatives of nonresident aliens in connection with any sources of come which such nonresident aliens may have within the United ates shall make a return of such income, and shall pay any and all x, normal and additional, assessed upon the income received by em in behalf of their nonresident alien principals, in all cases where e tax on income so in their receipt, custody or control shall not ve been withheld at the source. The agent of a nonresident alien responsible for a correct return of all income accruing to his prinpal within the purview of the agency. The agency appointment Il determine how completely the agent is substituted for the prinpal for tax purposes. Where upon filing a return of income it pears that a nonresident alien is not liable for tax, but nevertheless tax shall have been withheld at the source, in order to obtain a fund on the basis of the showing made by the return there should attached to it a statement showing accurately the amounts of tax thheld, with the names and post-office addresses of all withholding ents. See article 376.

ART. 405. Return of corporate dividends.-Dividends on stock of doestic corporations or resident foreign corporations are prima facie come of the record owner of the stock, and such record owner will liable for any additional tax based thereon, unless a disclosure of e actual ownership is made to the Commissioner on form 1087 (resed) which shall show that the record owner is not the actual wner and who the owner is and his address. In all cases where the tual owner is a nonresident alien individual and the record owner a person in the United States, the record owner will be considered r tax purposes to have the receipt, custody, control and disposal of e dividend income and will be required to make return for the tual owner, regardless of the amount of the income, and to pay y surtax found by such return to be due.

ART. 406. Verification of returns. All income tax returns must be rified under oath or affirmation. Persons in the naval or military rvice of the United States may verify their returns before any ficial authorized to administer oaths for the purposes of those serves. Income tax returns executed abroad may be attested free of

Where a foreig

charge before United States consular officers. notary or other official having no seal shall act as attesting officer, th authority of such attesting officer should be certified to by som judicial official or other proper officer having knowledge of the ap pointment and official character of the attesting officer.

ART. 407. Use of prescribed forms.-Copies of the prescribed retur forms will so far as possible be furnished taxpayers by collector Failure on the part of any taxpayer to receive a blank form wi not, however, excuse him from making a return. Taxpayers no supplied with the proper forms should make application therefor t the collector in ample time to have their returns prepared, verifie and filed with the collector on or before the last due date. Eac taxpayer should carefully prepare his return so as fully and clear to set forth the data therein called for. Imperfect or incorrect re turns will not be accepted as meeting the requirements of the statute In lack of a prescribed form a statement made by a taxpayer di closing his gross income and the deductions therefrom may be a cepted as a tentative return, and if filed within the prescribed time return so made will relieve the taxpayer from liability to penalties provided that without unnecessary delay such a tentative return i replaced by a return made on the proper form. See further article 443-446.

PARTNERSHIP RETURNS.

SEC. 224. That every partnership shall make a return for each taxable year, stating specifically the items of its gross income and the deductions allowed by this title, and shall include in the return the names and addresses of the individuals who would be entitled to share in the net income if distributed and the amount of the distributive share of each individual. The return shall be sworn to by any one of the partners.

ART. 411. Partnership returns.-Every partnership must make a re turn of income, regardless of the amount of its net income. T return shall be on form 1065 (revised) and shall be sworn to bi one of the partners. Such return shall be made for the taxable yes of the partnership, that is, for its annual accounting period (fise) year or calendar year as the case may be), irrespective of the taxai years of the partners. See section 218 of the statute and article 321-327. If the partnership makes any change in its accounti period, it shall make its return in accordance with the provisions section 226 and article 431. See also article 424.

ART. 412. Contents of partnership return.-The return of a part nership shall state specifically (a) the items of its gross inco enumerated in section 213 of the statute; (b) the deductions enun rated in section 214, other than the deduction provided in paragrap (11) of subdivision (a) of that section; (c) the amounts specifie

in subdivisions (a) and (b) of section 216 received by the partnership; (d) the amount of any income, war profits and excess profits taxes of the partnership paid during the taxable year to a foreign country or to any possession of the United States, and the amount of any such taxes accrued but not paid during the taxable year; (e) the names and addresses of the individuals who would be entitled to share in the net income of the partnership if distributed; (f) the amount of the distributive share of such net income of each such individual; and (g) such other facts as are required by form 1065 (revised). See also sections 222 and 227 and articles 381-384 and 441-448.

FIDUCIARY RETURNS.

SEC. 225. That every fiduciary (except receivers appointed by authority of law in possession of part only of the property of an individual) shall make under oath a return for the individual, estate or trust for which he acts (1) if the net income of such individual is $1,000 or over if single or if married and not living with husband or wife, or $2,000 or over if married and living with husband or wife, or (2) if the net income of such estate or trust is $1,000 or over or if any beneficiary of such estate or trust is a nonresident alien, stating specifically the items of the gross income and the deductions and credits allowed by this title. Under such regulations as the Commismissioner with the approval of the Secretary may prescribe, a return made by one of two or more joint fiduciaries and filed in the office of the collector of the district where such fiduciary resides shall be a sufficient compliance with the above requirement. The fiduciary shall make oath that he has sufficient knowledge of the affairs of such individual, estate or trust to enable him to make the return, and that the same is, to the best of his knowledge and belief, true and correct. Fiduciaries required to make returns under this act shall be subject to all the provisions of this act which apply to individuals. ART. 421. Fiduciary returns.-Every fiduciary, or at least one of joint fiduciaries, must make a return of income (a) for the individual whose income is in his charge, if the net income of such individual is $2,000 or over if married and living with husband or wife or is $1,000 or over in other cases, or (b) for the estate or trust for which he acts, if the net income of such estate or trust is $1,000 or over or if any beneficiary of such estate or trust is a nonresident alien. The return in case (a) and also in case (b) if the tax is payable by the fiduciary shall be on form 1040 (revised), except that it may be on short form 1040 A (revised) where the net income does not exceed $5,000. The return shall be on form 1041 (revised) in case (b) if the tax is payable by the beneficiaries. In such a case the fiduciary shall include in the return a statement of each beneficiary's distributive share of the net income, whether or not distributed before the close of the taxable year for which the return is made. See section 219 of the statute and articles 341–346. If the net income of a decedent from the beginning