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Sec. 276. (d) (1) in case a return was required under subchapter E of chapter 2 for the taxable year of the net operating loss or unused excess profits credit resulting in the carry-back, at any time before the expiration of the period within which (under section 275 or subsection (a) or (b) of this section) a deficiency (with respect to tax imposed either by chapter 1 or by subchapter B or E of chapter 2) for such taxable year (whichever is the longer period) may be assessed; or

Sec. 276. (d) (2) in case a return was not required under subchapter E of chapter 2 for the taxable year of the net operating loss or unused excess profits credit resulting in the carry-back, at any time before the expiration of the period within which (under section 275 or subsection (a) or (b) of this section) a deficiency (with respect to tax imposed either by chapter 1 or by subchapter A or B of chapter 2) for such taxable year (whichever is the longer period) may be assessed.

Sec. 276 (d), I. R. C., as shown in fn. 9, originally added

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9 Sec. 5 (e), T. A. A. of 1945, added Sec. 276 (d), I. R. C., which follows, effective with respect to taxable years beginning after Dec. 31, 1940:

"Sec. 276. (d) NET OPERATING LOSS CARRY-BACKS AND UNUSED EXCESS PROFITS CREDIT CARRY-BACKS.-A deficiency attributable to the application to the taxpayer of a net operating loss carry-back or an unused excess profits credit carry

Taxable Years

Beginning before 1944

back, including deficiencies which may be assessed pursuant to the provisions of section 3780 (b) and (c), may be assessed at any time prior to the expiration of the period within which a deficiency may be assessed with respect to the taxable year of the claimed net operating loss or unused excess profits credit resulting in such carry-back."

Taxable Years Beginning in 1949

Taxable Years Beginning in 1948

Taxable Years

Beginning in 1946 and 1947

Sec. 277. Suspension of running of statute.

The running of the statute of limitations provided in section 275 or 276 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 272 (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 sixty days thereafter.

Supplement M-Interest and Additions to the Tax

Sec. 291. Failure to file return.

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Sec. 291. (a) In case of any failure to make and file return required by this chapter, within the time prescribed by law or prescribed by the Commissioner in pursuance of law, unless it is shown that such failure is due to reasonable cause and not due to willful neglect, there shall be added to the tax: 5 per centum if the failure is for not more than thirty days with an additional 5 per centum for each additional thirty days or fraction thereof during which such failure continues, not exceeding 25 per centum in the aggregate. The amount so added to any tax shall be collected at the same time and in the same manner and as a part of the tax unless the tax has been paid before the discovery of the neglect, in which case the amount so added shall be collected in the same manner as the tax. The amount added to the tax

Sec. 291. (a).

Taxable Years Beginning in 1945

to I. R. C. by Sec. 5 (e), T. A. A. of 1945. Said Sec. 276 (d) amended to read as above by Sec. 122 (f) (1), R. A. of 1945, thus superseding the amendment shown in said footnote.

Retroactivity

Sec. 122 (f) (2) of said R. A. Act of 1945 makes amendment applicable to taxable years beginning after Dec. 31, 1940.

Sec. 277. Suspension of run

ning of statute.

Same as 1944.

Supplement M-Interest and Additions to the Tax

Sec. 291. Failure to file return.

Sec. 291. (a).

Same as 1944.

Taxable Years Beginning in 1944

Sec. 277. Suspension of running of statute.

The running of the statute of limitations provided in section 275 or 276 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 272 (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 sixty days thereafter.

Supplement M-Interest and Additions to the Tax

Sec. 291. Failure to file return.

Sec. 291. (a) In case of any failure to make and file return required by this chapter, within the time prescribed by law or prescribed by the Commissioner in pursuance of law, unless it is shown that such failure is due to reasonable cause and not due to willful neglect, there shall be added to the tax: 5 per centum if the failure is for not more than thirty days with an additional 5 per centum for each additional thirty days or fraction thereof during which such failure continues, not exceeding 25 per centum in the aggregate. The amount so added to any tax shall be collected at the same time and in the same manner and as a part of the tax unless the tax has been paid before the discovery of the neglect, in which case the amount so added shall be collected in the same manner as the tax. The amount added to the tax

Taxable Years Beginning before 1944

Sec. 277. Suspension of running of statute.

Section originated 1924 as
Sec. 277 (b), R. A. of 1924.
For any amendments prior to
1944, see-

Second Edition, p. 294,
Eighth Edition, p. 376,
Ninth Edition, p. 552.

Supplement M-Interest and Additions to the Tax

Sec. 291. Failure to file return.

Sec. 291. (a).

Section originated 1928 as
Sec. 291, R. A. of 1928.
For any amendments prior to
1944, see-

Eighth Edition, p. 376,
Ninth Edition, p. 552.

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Sec. 292. (a) General rule. Interest upon the amount determined as a deficiency shall be assessed at the same time as the deficiency, shall be paid upon notice and demand from the collector, and shall be collected as a part of the tax, at the rate of 6 per centum per annum from the date prescribed for the payment of the tax (or, if the tax is paid in installments, from the date prescribed for the payment of the first installment) to the date the deficiency is assessed, or, in the case of a waiver under section 272 (d), to the thirtieth day after the filing of such waiver or to the date the deficiency is assessed whichever is the earlier. If any portion of the deficiency assessed is not to be collected by reason of a prior satisfaction, in whole or in part, of the tax, proper adjustment shall be made with respect to the interest on such portion.

Sec. 292. Interest on deficiencies.

Sec. 292. (a) General rule.
Same as 1944.

Sec. 292. Interest on deficiencies.

Sec. 292. (a) General rule.
Same as 1944.

Sec. 292. (b) Deficiency result- Sec. 292. (b) Deficiency resulting from relief under section ing from relief under section 722. 722.

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Sec. 292. (b) Deficiency resulting from relief under section 722.

Same as 1944.

Taxable Years Beginning in 1945

Sec. 292. Interest on deficiencies.

Sec. 292. (a) General rule. Same as 1944.

Taxable Years Beginning in 1944

under this section shall be in lieu of the 25 per centum addition to the tax provided in section 3612 (d) (1).

See, 201. (b) For minimum addition to the tax for failure of withholding agent to make and file return required by Part II of Sub chapter D, eee section 470 (e).

Sec. 291 (b), I. R. C., supra, repealed by Sec. 6 (b) (7), I. I. T. A. of 1944. Sec. 2 of said Act makes repeal applicable to taxable years beginning after Dec. 31, 1943.

Sec. 292. Interest on deficiencies.

Sec. 292. (a) General rule. Interest upon the amount determined as a deficiency shall be assessed at the same time as the deficiency, shall be paid upon notice and demand from the collector, and shall be collected as a part of the tax, at the rate of 6 per centum per annum from the date prescribed for the payment of the tax (or, if the tax is paid in installments, from the date prescribed for the payment of the first installment) to the date the deficiency is assessed, or, in the case of a waiver under section 272 (d), to the thirtieth day after the filing of such waiver or to the date the deficiency is assessed whichever is the earlier. If any portion of the deficiency assessed is not to be collected by reason of a prior satisfaction, in whole or in part, of the tax, proper adjustment shall be made with respect to the interest on such portion.

Sec. 292 (a), I. R. C., supra, amended by Sec. 14 (c), I. I. T. A. of 1944, by adding language in italics.

Retroactivity

Sec. 14 (e) of said Act makes amendment applicable to taxable years beginning after Dec. 31, 1942.

Taxable Years Beginning before 1944

Sec. 291. (b).

See Ninth Edition, p. 554.

Sec. 292. Interest on deficiencies.

Sec. 292. (a) General rule.
Section originated 1918 as
Sec. 250 (b), R. A. of 1918.
For any amendments prior to
1944, see-

Second Edition, p. 286,
Eighth Edition, p. 378,
Ninth Edition, p. 554.

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