New-York tribune., 1909-06-26


company after making the deductions in this
section authorized All sucn returns shaH aS
received be transmitted forthwith by the col
lector to the Commissioner of Internal Revenue.
EXAMINATION OF BOOKS
Fourth-Whenever evidence shall he produced
before the Commissioner Of Internal Revenue
which in the opinion Of the Conlrnissloner JUS
titles the belief that the return mace py slIS
corporation, joint stock company or association
or insurance company is incorrect, or whenever
any collector shall report TO the Commissioner
of Internal Revenue that any corporation JolLll
stock company or association or insurance COM
pany has failed to make return as IequlIeu
by law, the Commissioner of Internal Revenue
may require from the corporation JolHt Jol slooh
company association or insurance company
making such return such further infornato!i
with reference to its capital, income losses CO
expenditures as he may deem expedieEt; anc lAe
Commissioner of Internal Revenue, for the pu-
pose of ascertaining the correctness OF such re-
turn or for the purpose Of making a return
where none has been made, Is hereby authorized
hy any regularly appointed revenue agent spe-
cially designated by him for that purpose, 10
examine any hooks and papers bearing upon
the matters required to be included in the re-
turn of such corporation, joint stock company
or association insurance company, ana 10 re-
o1Jire the attendance Of anv- officer employe
of such corpora tion joint stock company or as
sociatfon or insurance company, and to take his
testimony with reference to the matter required
by law to be included in such return, with
power to administer oaths 10 such person or
persons; and the Commissioner or lntefnal
Revenue may also invoke the aid OF suCh ON
GERS or employees and the production OF such
books and papers. Upon the information so ac-
utired the Commissioner of Internal Revenue
may amend any return or make return where
none has been made. All proceedings taken ny
the Commissioner Of Internal Revenue under
the provisions of this section shall be subject
10 the approval of the Secretary Of the Treasury
ASSESSMENTS BY COMMISSIONER
Fifth-AH returns shall be retained by the
Commissioner of Internal Revenue, who shall
make assessments thereon; and in case OF any
return made with false or fraudulent intent, ne
shall add 100 per centum of such tax, and IN
case of refusal or neglect TO make return or
To verify the same as aforesaid he shall add so
per centum of such tax. In case of neglect oc-
casioned by the sickness or absence of an officer
OF such corporation. joint stock company or as
sociation insurance company. required 10
make said return, the collector may allow such
further time for making and delivering such
return as he may deem necessary, not exceeding
thirty days. The amount so added to the tax
shall be collected at the same time and in the
same manner the tax originally assessed
unless the refusal neglect or falsity is discovered
after the date for paymnt of said taxes, in which
case the amount so added shall be paid by the
delinquent corpora ton, joint stock company or
association or insurance company, Immediately
upon notice given by the collector.
All assessments shall be made, and the sew
eral corporations, joint stock companies or asso-
Citations, or insurance companies. shall be mott
fed OF the amount for which rney are respec-
lively liable. 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 fraud
ulent returns. in which cases the Commissioner
Of Internal Revenue shall upon the discovery
thereof at any time within three years after
said return is due, make return upon lnforma-
ton obtained as above provided Tor, ana the
assessment made by the Commissioner of In
ternal Revenue thereon shall be paid by such
or joint stock company or associa-
ton. insurance company. Immediately upon
notification of the amount of such assessment:
and any sum sums due and unpaid after
the thirtieth day of June in any year and for ten
davs after notice and demand thereof by the
there shall he added the sum Of . per
centum the amount of tax unpaid and inter
est at the rate Of l per Centum per month upon
said tax from the time the same becomes due as
q penalty.
RECORDS OPEN TO INSPECTION.
Sixth-When the assessment shall be made,
as provided in this section, the returns together
with any corrections thereof which may have
been made by the commissioner, shall be filed
in the Office OF the Commissioner Of Internal
Revenue. and shall constitute public records and
be open TO inspection such
SEVENTH shall be unlawful for any col
lector. deputy collector, agent. clerk or other
officer or employe of the United States 10 di-
vulge or make known in any manner whatever
not provided by law to any person any informa-
tion obtained by him in. the discharge of his
any manner not provided by law any document
received evidence taken, report made under
Of the President; and any offence against the
foregoing provision shall be a misdemeanor and
be punished by a fine not exceeding $1,000 or
by Imprisonment not exceeding one year, or
both at the discretion Of the court
PENALTIES FOR FALSE RETURNS
Eighth-That if any Of the corporations joint
stock companies or associations or insurance
aforesaid, shall refuse or neglect to
make a return as above specified or before
the first day Of March IN each successive year,
or shall render false or fraudulent return. such
joint stock company association,
or insurance company, shall be liable 10 a pen
atty Of not less than $1,000 and not exceeding
$4,000.
That any person authorized by law TO make,
render, sign or verify any return who makes any
false fraudulent return. or statement, with
intent to defeat evade the assessment re-
oured by this section 10 be made shall be guilty
Of misdemeanor and shall be fined not exceed |
ing $1,000, or be imprisoned not exceeding one
year both, at the discretion OF the court, with
the costs Of prosecution.
That ell laws relating TO the collection. re-
mission and refund of internal revenue taxes, so
far applicable to and not inconsistent with |
the provisions Of this section, are hereby eX- |
tended and made applicable to the tax imposed |
by this section.
Jurisdiction is hereby conferred upon the |
circuit and district courts of the United States |
for the district within which any person sum- |
moned under this section 10 appear 10 testify |
or TO produce books, aforesaid shall reside |
to compel such attendance. production OF books |
and testimony by appropriate process
CORPORATION TAX NO NEW IDEA.