308 SIXTY-EIGHTH CONGRESS. Sess. I. Ch. 234. 1924. Bun ‘*¤¥· i (b Return shall be made in all cases where the gross estate at cs§i;ugi°c¤§<is?uir°so?¤¤i the death of the decedent exceeds $50,000, and in the case of the ?§U§{§§d°‘§'Z,?'t§"t’ m estate of every nonresident any part of whose gross estate is P°'“*“ '°°“'¤8· situated in the United States. If the executor is unable to make a, complete return as to any part of the gross estate of the decedent, he shall include in his return a. description' of such part and the name of every person holdin a legal or beneficial interest therein ang; upon notice from tllie col§c£o1ii such person shall in like manner . I m eareturn as to suc parto thegross estate. me Sec. 305. (a) The ta.x imposed by Part I of this title shall be due andtlpayable one year afffr the decedent’s death, and shall be paid . t t t . ¢¤ll}·l>iZiS y(b)B Iiléhbieolthd) C0 0(l)1;I' finds that the payment on the due date of any part of the amount determined by the executor as the tax would impose undue hardship ugion the estate, the Commissioner may extend the time for payment o any such part not to exceed Eve years from the due In such case the amount in res act of which the_extension is granted shall be paid on or before the date mtmmmm of the expiration of the period of the extension. _ *><i¤¤¤¤- · (c) If the time for the payment thus extended there shall be collected, as a part of such amount, interest thereon at the rate of 6 HSE $22% $$5 €.“§`¥S"dE°é“ *£3§§£“?t2‘£“ °`i di ‘“E’1‘f}‘S ’°`€“" ·"“° - _ _ o_ eper1o 0 eexe . .¤§.3”°f;°°2';';’d°*°i (d) The tune for which libc Commissioner may extend thenlliiile ,,d_ ‘ “ · for payment of the estate tax Imposed by Title IV of the Revenue may dmmimum Act of 1921 is hereby increased from three years to five years. crm. _Srgc. 306. As soon as practicable after the return is filed the Com- Eissfigiier shall examme it and Shall determine the correct amount of mnius u Q , °*°B'f°Y·" of M- Sm. 307. As used in Part I of this title the term "deficiency” When tax imposed means" _ _ ggggff mmm 0* ¤¤· (1) The amount by which the tax imposed by Part I of this title cmmm exceeds the amount shown as the tax by the executor upon his return; but the; amount sol shown 01:1 the retngn slzlall iirst be increased by the amoun s previous y assesse or co ecte without t deficiency, and decreased by the amounts previously alligtzilrlligfdnglici S pam wz or otherwise repaid in respect of such tax; or sh0w¤'m_”° °*¤°°¤ (2) If no amount 1S_SllOWIl as the tax by the executor upon his C dm return, gr if no return IS made by the executor, then the amount by on on. which the tax exceeds the amounts previously assessed (or collected without assessment) as a deficiency; but such amounts previously
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- `tpglugy1th<i;1tt agsessigieng, shall first be_decreased by
Y tmmexmm of ms t of Suclpmx y a a e_, re un ed. or otherwise repaid m . c PCC . . d°m°“°Y‘ Sap. 308, (a) If the Commissioner determines that there is a deficiency in respect of the tax imposed by Part I of this title, the gigizlutggégicizgt £ll);p;§g1lsi8d an subdivésipn (dg, Shgll be notified of Appear to nam ct _ ere mai u s ° h H b A;§m¤sé_336· ;s;eiiie?Sc;1;yle:§tl;1;re1naft€r provitgéd. Witliin Gl`!) (diiylsiyafieizi suclii execu or ma ‘ mgiggggfgkggw- Taxb A¥¥€a]S established by Sectiygm gogn appeal with the Board of Q · · (d )t thedB0£H‘g determines that there is a deficiency, the amount si5$:lO;,,;m;;n.;1,;LIg,i;.' go e ermine s a be assessed and shall be paid upon notice and ,,uDw,d_ eripand from thi? COHBGQOP: No part of the amount determined as a. die §1•%1cy by the Commissioner but disallowed as such by the Board . isgessxxieligseigedihbut °l1pr°°°°d"‘g ‘“ °°““ may b° b"g““> “’i“‘°P‘° m.,,.,m,,,,,,dg,,,,,,t · , r e co ection of any part of the amount so d1S- ¤1¤¤¤¤- allowed. The court shall include in its judgment interest upon the amount thereof at the rate of 6 r centum r annum from the date prescribed for the payment of gis tax to til; date of the judgment.
