870
SEVENTIETH CONGRESS . SEss. I . CH. 852. 1928. AMENDMENTS TO 1926 SEC . 5 04 . SUSPENSION OF RUNNIN G OF STATU TE OF LIMI TATIONS . INCOME TAX t,o satnte of limita (a) Section 277(b) of the Revenue Act of 1926 is amended to Vol, 44, p . 58, amend- rea d as f ollows ed . Suspension of run- "(b) The running of the statute of limitations provided in this ping of, on assessments section or in section 278 on the making of assessments and the begin- and collections, during
g prohibited period .
fling of distraint or a proceeding in court for collection, in respect of any deficiency, shall (after the mailing of a notice under sub- Vol.44,p.55.
division (a) of section 274) be suspended for the period during which the Commissioner is prohibited from making the assessment Unt il decision of or beginning distraint or a proceeding in court (and in any event, Board, etc .
if a proc eeding in re spect of the defic iency i s plac ed on the do cket of the Board, until the decision of the Board becomes final), and for Application if period 60 days thereafter . " not expired . (b) Subsection (a) of this section shall apply in all cases where the period of limitation has not expired prior to the enactment of this Act . Sta tute of limits- dons . 505 . SAME-TRANSFEREE CASES . . Vol.44,p. 61, amend-
(a) Section 280(d) of the Revenue Act of 1926 is amended to read ed. as follows Suspension of run- u (d) The running of the statute of limitations upon the assessment ning of, upon liabili- ties of tr ansferees, etc ., .of the liability of a transferee or fiduciary shall, after the mailing of during prohibited pe-
y
y
5
g Hod .
the notice under subdi vision (a) o f secti on 274 to th e tran sferee or Vol. 44, p. 55 .
fiduciary, be suspended for the period during which the Commis- sioner is prohibited from making the assessment in respect of the liability of the transferee or fiduciary (and in any event, if a pro- Unti l de cis ion of ceeding in respect of the liability is placed on the docket of the Board, etc .
Board until the decision of the Board becomes final), and for 60 Application of period days tbere after ." not expired . (b) Subsection (a) of this section shall apply in all cases where the period of limitation has not expired prior to the enactment of this Act. tio Wai ve rs iodof i ita - SEC . 506. WAIVERS AFTER EXPIRATION OF PERIOD OF LIMITA . tion .
TION. ed Vol . 44p .59, amend- (a) Section 278 (c) and (d) of the Revenue Act of 1926 are At an y time before amended to read as follows : assessment, by written
ƒ consent of commis-
(c) Where before the expiration of the time prescribed in section sinner and ta xpayer . Vol . 44,
277 for the assessment of the tax, both the Commissioner and the ,p.58. taxpayer have consented in writing to its assessment after such time, the tax may be assessed at any time prior to the expiration of the period agreed upon . The period so agreed upon may be extended by subsequent agreements in writing made before the expiration of Agreement in writ- the period previously agreed upon . ing, for extending col- lection of income tax,
(d) Where the assessment of any income, excess-profits, or war- etc ., by court action, profits taxes imposed by this title or by prior Act of Congress has been made (whether before or after the enactment of this Act) within the period of limitation properly applicable thereto, such tax may be collected by distraint or by a proceeding in court (begun before or after the enactment of this Act), 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 Commis sioner and t he tax payer before the ex pirati on of such s ix-yea r period . The period so agreed upon may be extended by subsequent agreements in writing made before the expiration of the period New subdivision .
previously agreed upon . " ed Vol.44,p. 59, amend. (b) Section 278 of the Revenue Act of 1926 is further amended by adding at the end thereof a new subdivision to read as follows hereafter .
valid "(f) Any agreement which would be within the provisions of . subdivision (c) or (d) of this section but for the fact that it was
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