Author : U. S. Office of Internal Revenue
Release : 2017-11-22
Genre : Reference
Kind : eBook
Book Rating : 531/5 ( reviews)

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Book Synopsis Law and Regulations Relative to Excise Tax on Corporations, Joint Stock Companies, Associations and Insurance Companies by : U. S. Office of Internal Revenue

Download or read book Law and Regulations Relative to Excise Tax on Corporations, Joint Stock Companies, Associations and Insurance Companies written by U. S. Office of Internal Revenue. This book was released on 2017-11-22. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Law and Regulations Relative to Excise Tax on Corporations, Joint Stock Companies, Associations and Insurance Companies: December 3, 1909 Fifth. Returns sha be retained by the Commissioner of In ternal Revenue, who Shall make assessments thereon; and in case of any return made with false or fraudulent intent, he Shall add one hundred per centum of such tax, and in case of a refusal or n lect to make a return or to verify the same as aforesaid he shall ail fifty per centum of such tax. In case of neglect occasioned b the sick ness or absence of an ofiicer of such corporation, joint company or association, or insurance company, required to make said return, or for other suflicient reason, the collector may allow such further time for makin and delivering such return as he may deem neces sary, not excee ing thirty days. The amount so added to the tax shall be'collected at the same time and in the same manner as the tax originally assessed, unless the refusal, neglect, or falsity is discovered after the date for pa ent of said taxes, in which case the amount so added shall be pai by the delinquent corporation, joint stock com pany or association, or insurance company, immediately u n notice given by the collector. All assessments shall be made and t e several corporations, joint stock companies or associations, or insurance com anies, shall be notified of the amount for which they are respectively able on or before the first day of June of each successive year, and said assessments shall be paid on or before the thirtieth day of June, except in cases of refusal or neglect to make such return, and in cases of false or fraudulent returns, in which cases the Commissioner of Internal Revenue shall, upon the discovery thereof, at any timc within three years after said return is due, make a return upon infor mation obtained as above provided for, and the assessment made b the Commissioner of Internal Revenue thereon shall be paid by su corporation, joint stock company or association, or insurance com pany immediately upon notification of the. Amount of such assess ment; and to any sum or sums due and unpa1d after the thirtieth day of June in any year, and for ten da after notice and demand thereof by the collector, there shall be ad ed the sum of five per centum on the amount of tax unpaid and interest at the rate of one r centum per month u n said tax from the time the same becomes ue. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.