Estates of Decedents Dying During 1944 to 1949, Inclusive per centum per annum from the date of the jeopardy notice and demand to the date of notice and demand under this subsection. Sec. 872 (f), (g), I. R. C., supra, originated 1924 For any amendments prior to 1944, see- Ninth Edition, p. 1030. Sec. 872. (h) Waiver of stay.-Upon the filing of the bond the collection of so much of the amount assessed as is covered by the bond shall be stayed. The executor shall have the right to waive such stay at any time in respect of the whole or any part of the amount covered by the bond, and if as a result of such waiver any part of the amount covered by the bond is paid, then the bond shall, at the request of the executor, be proportionately reduced. If the Board determines that the amount assessed is greater than the amount which should have been assessed, then when the decision of the Board is rendered the bond shall, at the request of the executor, be proportionately reduced. Sec. 872 (h), I. R. C., supra, originated 1926 as For any amendments prior to 1944, see- Ninth Edition, p. 1032. Sec. 872. (i) Collections of unpaid amounts.— When the petition has been filed with the Board and when the amount which should have been assessed has been determined by a decision of the Board which has become final, then any unpaid portion, the collection of which has been stayed by the bond, shall be collected as part of the tax upon notice and demand from the collector, and any remaining portion of the assessment shall be abated. If the amount already collected exceeds the amount determined as the amount which should have been assessed, such excess shall be refunded. If the amount determined as the amount which should have been assessed is greater than the amount actually assessed, then the difference shall be assessed and shall be collected as part of the tax upon notice and demand from the collector. Sec. 872 (1), I. R. C., supra, originated 1926 as Sec. 312 (1), R. A. of 1926. For any amendments prior to 1944, see Eighth Edition, p. 523, Ninth Edition, p. 1032. Sec. 873. Claims in abatement. No claim in abatement shall be filed in respect of the assessment of any estate tax imposed by this subchapter. Sec. 873, I. R. C., supra, originated 1926 as Sec. 312 (k), R. A. of 1926. For any amendments prior to 1944, see Eighth Edition, p. 524, Ninth Edition, p. 1034. Sec. 874. Period of limitation upon assessment and collection. Sec. 874. (a) General rule.-Except as provided in subsection (b) the amount of estate taxes imposed by this subchapter shall be assessed within three years after the return was filed, and no proceeding in court without assessment for the collection of such taxes shall be begun after the expiration of three years after the return was filed. Sec. 874 (a), I. R. C., supra, originated 1921 as For any amendments prior to 1944, see— Ninth Edition, p. 1034. Sec. 874. (b) Exceptions. Sec. 874. (b) (1) False return or no return.-In the case of a false or fraudulent return with intent to evade tax or of a failure to file a return the tax may be assessed, or a proceeding in court for the collection of such tax may be begun without assessment, at any time. Sec. 874 (b) (1), I. R. C., supra, originated 1921 For any amendments prior to 1944, see- Ninth Edition, p. 1034. Sec. 874. (b) (2) Collection after assessment.— Where the assessment of any tax imposed by this subchapter has been made within the statutory period of limitation properly applicable thereto, such tax may be collected by distraint or by a proceeding in court, but only if begun (1) within six years after the assessment of the tax, or (2) prior to the expiration of any period for collection agreed upon in writing by the Commissioner and the executor. Sec. 874 (b) (2), I. R. C., supra, originated in 1921 For any amendments prior to 1944, see- Sec. 875. Suspension of running of statute. The running of the statute of limitations provided in section 874 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 871 (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 60 days thereafter. Sec. 875, I. R. C., supra, originated 1924 as Sec. For any amendments prior to 1944, see- Sec. 876. Cross reference. For collection of unpaid deficiencies under provisions of general law and sale of property under judgment, see section 826 (a). Supplement B-Interest, Additions to the Tax, and Penalties Sec. 890. Interest on extended payments. Sec. 890. (a) Tax shown on return.-If the time for the payment is extended as provided in section Estates of Decedents Dying During 1944 to 1949, Inclusive 822 (a) (2) there shall be collected, as a part of such amount, interest thereon from the expiration of three months after the due date of the tax to the expiration of the period of the extension. In the case of any such extension, the rate of interest shall be 4 per centum per annum. Sec. 890. (b) Deficiency.-In case an extension for the payment of a deficiency is granted, as provided in section 871 (h), there shall be collected, as a part of the tax, interest on the part of the deficiency the time for payment of which is so extended, at the rate of 6 per centum per annum for the period of the extension, and no other interest shall be collected on such part of the deficiency for such period. Sec. 890, I. R. C., supra, originated 1924 as Sec. For any amendments prior to 1944, see- Ninth Edition, p. 1036. Sec. 891. Interest on deficiencies. 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 due date of the tax to the date the deficiency is assessed, or, in the case of a waiver under section 871 (d), to the thirtieth day after the filing of such waiver or to the date the deficiency is assessed whichever is the earlier. Sec. 891, I. R. C., supra, originated 1924 as Sec. 308 (e), R. A. of 1924. For any amendments prior to 1944, see Eighth Edition, p. 518, Ninth Edition, p. 1036. Sec. 892. Interest on jeopardy assessments. In the case of the amount collected under section 872 (i) there shall be collected at the same time as such amount, and as a part of the tax, interest at the rate of 6 per centum per annum upon such amount from the date of the jeopardy notice and demand to the date of notice and demand under section 872 (i), or, in the case of the amount collected in excess of the amount of the jeopardy assessment, interest as provided in section 891. Sec. 892, I. R. C., supra, originated 1926 as Sec. For any amendments prior to 1944, see- Sec. 893. Additions to the tax in case of nonpayment. Sec. 893. (a) Tax shown on return.— Sec. 893. (a) (1) Payment not extended.-Where the amount determined by the executor as the tax imposed by this subchapter, or any part of such amount, is not paid on the due date of the tax, there shall be collected as a part of the tax, interest upon such unpaid amount at the rate of 6 per centum per annum from the due date until it is paid. Sec. 893. (a) (2) Payment extended.-Where an extension of time for payment of the amount so de termined as the tax by the executor has been granted, and the amount the time for payment of which has been extended, and the interest thereon determined under section 890 (a), is not paid in full prior to the expiration of the period of the extension, then, in lieu of the interest provided for in paragraph (1) of this subsection, interest at the rate of 6 per centum per annum shall be collected on such unpaid amount from the date of the expiration of the period of the extension until it is paid. Sec. 893 (a), I. R. C., supra, originated 1924 as For any amendments prior to 1944, see- Ninth Edition, p. 1038. Sec. 893. (b) Deficiency. Sec. 893. (b) (1) Payment not extended.—Where a deficiency, or any interest assessed in connection therewith under section 891, or any addition to the tax provided for in section 3612 (d), is not paid in full within 30 days from the date of notice and demand from the collector, there shall be collected as part of the tax, interest upon the unpaid amount at the rate of 6 per centum per annum from the date of such notice and demand until it is paid. Sec. 893 (b), I. R. C., supra, originated 1924 as For any amendments prior to 1944, see- Sec. 893. (b) (2) Filing of jeopardy bond.—If a bond is filed, as provided in section 872, the provisions of paragraph (1) of this subsection shall not apply to the amount covered by the bond. Sec. 893 (b) (2), I. R. C., supra, originated 1924 as Sec. 309 (c), R. A. of 1924. For any amendments prior to 1944, see Eighth Edition, p. 520, Ninth Edition, p. 1040. Sec. 893. (b) (3) Payment extended.—If the part of the deficiency the time for payment of which is extended as provided in section 871 (h) is not paid in accordance with the terms of the extension, there shall be collected, as a part of the tax, interest on such unpaid amount at the rate of 6 per centum per annum for the period from the time fixed by the terms of the extension for its payment until it is paid, and no other interest shall be collected on such unpaid amount for such period. Sec. 893 (b) (3), I. R. C., supra, originated 1924 For any amendments prior to 1944, see- Sec. 893. (b) (4) Jeopardy assessment-Payment stayed by bond.-If the amount included in the notice and demand from the collector under section 872 (i) is not paid in full within 30 days after such notice and demand, then there shall be collected, as part of the tax, interest upon the unpaid amount at the rate of 6 per centum per annum from the date of such notice and demand until it is paid. Sec. 894. Penalties. Estates of Decedents Dying During 1944 to 1949, Inclusive Sec. 894. (a) Ad valorem. FAILURE TO FILE RETURN.-For addition to the tax for failure to file return, see section 3612 (d) (1). FALSE OR FRAUDULENT RETURN.-For 50 per centum addition to the tax in case of a false or fraudulent return, see section 3612 (d) (2). Sec. 894. (b) Specific. Sec. 894. (b) (1) Civil.-Whoever fails to comply with any duty imposed upon him by section 820, 821, or 864, or, having in his possession or control any record, file, or paper, containing or supposed to contain any information concerning the estate of the decedent, or, having in his possession or control any property comprised in the gross estate of the decedent, fails to exhibit the same upon request to the Commissioner or any collector or law officer of the United States or his duly authorized deputy or agent, who desires to examine the same in the performance of his duties under this subchapter, shall be liable to a penalty of not exceeding $500, to be recovered, with costs of suit, in a civil action in the name of the United States. Sec. 894. (b) (2) Criminal.— (A) Whoever knowingly makes any false statement in any notice or return required to be filed under this subchapter shall be liable to a penalty of not exceeding $5,000, or imprisonment not exceeding one year, or both. (B) Any person required under this subchapter to pay any tax, or required by law or regulations made under authority thereof to make a return, keep any records or supply any information, for the purposes of the computation, assessment, or collection of any tax imposed by this subchapter, who willfully fails to pay such tax, make such return, keep such records, or supply such information, at the time or times required by law or regulations, shall, in addition to other penalties provided by law, be guilty of a misdemeanor and, upon conviction thereof, be fined not more than $10,000, or imprisoned for not more than one year, or both, together with the costs of prosecution. (C) Any person required under this subchapter to collect, account for and pay over any tax imposed by this subchapter, who willfully fails to collect or truthfully account for and pay over such tax, and any person who willfully attempts in any manner to evade or defeat any tax imposed by this subchapter or the payment thereof, shall, in addition to other penalties provided by law, be guilty of a felony and, upon conviction thereof, be fined not more than $10,000, or imprisoned for not more than five years, or both, together with the costs of prosecution. (D) The term "person" as used in paragraphs (B) and (C) includes an officer or employee of a corporation or a member or employee of a partnership, who as such officer, employee, or member is under a duty to perform the act in respect of which the violation occurs. Sec. 894 (b), I. R. C., supra, originated 1916 as Sec. 210, R. A. of 1916. For any amendments prior to 1944, seeEighth Edition, p. 538, Ninth Edition, p. 1042. Sec. 894. (b) (3) Cross reference. For other penalties of a general character, see section 3793. Sec. 895. Cross reference. For interest on refunds, see section 3771. Supplement C-Claims Against Transferees and Fiduciaries Sec. 900. Transferred assets. Sec. 900. (a) Method of collection.-The amounts of the following liabilities shall, except as hereinafter in this section provided, be assessed, collected, and paid in the same manner and subject to the same provisions and limitations as in the case of a deficiency in a tax imposed by this subchapter (including the provisions in case of delinquency in payment after notice and demand, the provisions authorizing distraint and proceedings in court for collection, and the provisions prohibiting claims and suits. for refunds): Sec. 900. (a) (1) Transferees.-The liability, at law or in equity, of a transferee of property of a decedent, in respect of the tax (including interest, additional amounts, and additions to the tax provided by law) imposed by this subchapter. Sec. 900. (a) (2) Fiduciaries.-The liability of a fiduciary under section 3467 of the Revised Statutes (U. S. C., Title 31, § 192) in respect of the payment of any such tax from the estate of the decedent. Any such liability may be either as to the amount of tax shown on the return or as to any deficiency in tax. Sec. 900. (b) Period of limitation.-The period of limitation for assessment of any such liability of a transferee or fiduciary shall be as follows: Sec. 900. (b) (1) Within one year after the expiration of the period of limitation for assessment against the executor. Sec. 900. (b) (2) If a court proceeding against the executor for the collection of the tax has been begun within the period provided in paragraph (1)—then within one year after return of execution in such proceeding. Sec. 900. (c) Suspension of running of statute of limitations.-The running of the statute of limitations, upon the assessment of the liability of a transferee or fiduciary shall, after the mailing of the notice under section 871 (a) to the transferee or fiduciary, be suspended for the period during which the Commissioner is prohibited from making the assessment in respect of the liability of the transferee or fiduciary (and in any event, if a proceeding in respect of the liability is placed on the docket of the Board, until the decision of the Board becomes final), and for 60 days thereafter. Estates of Decedents Dying During 1944 to 1949, Inclusive Sec. 900. (d) Prohibition of suits to restrain enforcement of liability of transferee or fiduciary.-No suit shall be maintained in any court for the purpose of restraining the assessment or collection of (1) the amount of the liability, at law or in equity, of a transferee of property of a taxpayer in respect of any estate tax, or (2) the amount of the liability of a fiduciary under section 3467 of the Revised Statutes (U. S. C., Title 31, § 192) in respect of any such tax. Sec. 900. (e) Definition of "transferee."-As used in this section, the term "transferee" includes heir, legatee, devisee, and distributee, and includes any person who, under section 827 (b), is personally liable for any part of the tax. Sec. 900, I. R. C., supra, originated 1926 as Sec. 316, R. A. of 1926. For any amendments prior to 1944, see Sec. 901. (b) Fiduciary of transferee.-Upon notice to the Commissioner that any person is acting in a fiduciary capacity for a person subject to the liability specified in section 900, the fiduciary shall assume on behalf of such person the powers, rights, duties, and privileges of such person under such section (except that the liability shall be collected from the estate of such person), until notice is given that the fiduciary capacity has terminated. Sec. 901. (c) Manner of notice.-Notice under subsection (a) or (b) shall be given in accordance with regulations prescribed by the Commissioner with the approval of the Secretary. Sec. 901. (d) Address for notice of liability.In the absence of any notice to the Commissioner under subsection (a) or (b), notice under this subchapter of a deficiency or other liability, if addressed. in the name of the decedent or other person subject to liability and mailed to his last known address, shall be sufficient for the purposes of this subchapter. Sec. 901, I. R. C., supra, originated 1926 as Sec. 317, R. A. of 1926. For any amendments prior to 1944, see Eighth Edition, p. 533, Ninth Edition, p. 1046. Supplement D-Refunds Sec. 910. Period of limitation for filing claims. All claims for the refunding of the tax imposed by this subchapter alleged to have been erroneously or illegally assessed or collected must be presented to the Commissioner within three years next after the payment of such tax. The amount of the refund shall not exceed the portion of the tax paid during the three years immediately preceding the filing of the claim, or if no claim was filed, then during the three years immediately preceding the allowance of the refund. Sec. 910, supra, originated 1926 as Sec. 319 (b), For any amendments prior to 1944, see- Ninth Edition, p. 1048. Sec. 911. Effect of petition to Board. If the Commissioner has mailed to the executor a notice of deficiency under section 871 (a) and if the executor files a petition with the Board of Tax Appeals within the time prescribed in such subsection, no refund in respect of the tax shall be allowed or made and no suit for the recovery of any part of such tax shall be instituted in any court, except Sec. 911. (a) As to overpayments determined by a decision of the Board which has become final; and Sec. 911. (b) As to any amount collected in excess of an amount computed in accordance with the decision of the Board which has become final; and Sec. 911. (c) As to any amount collected after the statutory period of limitations upon the beginning of distraint or a proceeding in court for collection has expired; but in any such claim for refund or in any such suit for refund the decision of the Board which has become final, as to whether such period had expired before the notice of deficiency was mailed, shall be conclusive. Sec. 911, I. R. C., supra, originated 1926 as Sec. For any amendments prior to 1944, see- Sec. 912. Overpayment found by Board. If the Board finds that there is no deficiency and further finds that the executor has made an overpayment of tax, the Board shall have jurisdiction to determine the amount of such overpayınent, and such amount shall, when the decision of the Board has become final, be credited or refunded to the executor as provided in section 3770 (a). No such refund shall be made of any portion of the tax unless the Board determines as part of its decision that such portion was paid within three years before the filing of the claim or the mailing of the notice of deficiency, whichever is earlier, or that such portion was paid after the mailing of the notice of deficiency. Sec. 912, I. R. C., supra, originated 1926 as Sec. 319 (c), R. A. of 1926. For any amendments prior to 1944, see- Sec. 913. Cross references. For other provisions affecting refunds of estate taxes, see Section 3770 (a) (1), Authority of Commissioner to make refunds. Section 3772, Limitations on suits for refunds. Estates of Decedents Dying During 1944 to 1949, Inclusive Section 3770 (a) (2), Refund of amounts collected after period of limitation. Section 3746, Recovery of amounts erroneously refunded. Section 3760, Closing agreements. Supplement E-Estates in China Sec. 920. Payment of tax. In the case of a resident within the meaning of section 851 Sec. 920. (a) To clerk of United States Court for China.-Where no part of the gross estate of the decedent is situated in the United States at the time of his death, the total amount of tax due under this subchapter shall be paid to or collected by the clerk of the United States Court for China; Sec. 920. (b) To collector.-Where any part of the gross estate of the decedent is situated in the United States at the time of his death, the tax due under this subchapter shall be paid to or collected by the collector of the district in which is situated the part of the gross estate in the United States, or, if such part is situated in more than one district, then the collector of such district as may be designated by the Commissioner. Sec. 920, I. R. C., supra, originated 1921 as Sec. 411 (a), R. A. of 1921. For any amendments prior to 1944, see Eighth Edition, p. 538, Ninth Edition, p. 1052. Sec. 921. Authority of clerk of United States Court for China to act as collector. For the purpose of section 920 the clerk of the United States Court for China shall be a collector for the territorial jurisdiction of such court, and taxes shall be collected by and paid to him in the same manner and subject to the same provisions of law, including penalties, as the taxes collected by and paid to a collector in the United States. Sec. 921, I. R. C., supra, originated 1921 as Sec. Ninth Edition, p. 1052. Supplement F-Extension of Payment Sec. 925. Period of extension. Where there is included in the value of the gross estate the value of a reversionary or remainder interest in property, the payment of the part of the tax imposed by this subchapter attributable to such interest may, at the election of the executor, be postponed until six months after the termination of the precedent interest or interests in the property, and the amount the payment of which is so postponed shall then be payable, together with interest thereon at the rate of 4 per centum per annum from eighteen months after the date of the decedent's death until such amount is paid. Sec. 925, I. R. C., supra, originated 1926 as Sec. 305 (e), R. A. of 1926. For any amendments prior to 1944, seeEighth Edition, p. 514, Ninth Edition, p. 1054. Sec. 926. Requirements for extension. The postponement of payment of such amount shall be under such regulations as the Commissioner with the approval of the Secretary may prescribe, and shall be upon condition that the executor, or any other person liable for the tax, shall furnish a bond in such an amount, and with such sureties, as the Commissioner deems necessary, conditioned upon the payment within six months after the termination of such precedent interest or interests of the amount the payment of which is so postponed, together with interest thereon, as provided in section 925. Sec. 926, I. R. C., supra, originated 1926 as Sec. For any amendments prior to 1944, see- Sec. 927. Credit for state death taxes. Such part of any estate, inheritance, legacy, or succession taxes allowable as a credit against the tax imposed by this subchapter as is attributable to such reversionary or remainder interest may be allowed as a credit against the tax attributable to such interest, subject to the percentage limitation contained in section 813 (b), if such part is paid, and credit therefor claimed, at any time prior to the expiration of 60 days after the termination of the precedent interest or interests in the property. Sec. 927, I. R. C., supra, originated 1926 as Sec. For any amendments prior to 1944, see- Sec. 930. (a) The term "executor" means the executor or administrator of the decedent, or, if there is no executor or administrator appointed, qualified, and acting within the United States, then any person in actual or constructive possession of any property of the decedent; Sec. 930. (b) The term "net estate" means the net estate as determined under the provisions of section 812 or 861; Sec. 930. (c) The term "month" means calendar month; and Sec. 930. (d) The term "collector" means the collector of internal revenue of the district in which was the domicile of the decedent at the time of his death, or, if there was no such domicile in the United States, then the collector of the district in which is situated the part of the gross estate of the decedent in the United States, or, if such part of the gross estate is situated in more than one district, |