74 TH CONGRESS . SESS. I. CH. 531. AUGUST 14, 1935 .
637 DEDUCTIBILITY FROM INCOME TAX SEC . 803 . For the purposes of the income tax imposed by Title I of the Revenue Act of 1934 or by any Act of Congress in substitution therefor, the t ax imposed by sec tion 801 shall no t be allowed as a deduction to th e taxpayer in com puting his net in come for the year in which such tax is deducted from his wages . EXCISE TAX ON EMPLOYERS SEC . 804. In addition to other taxes, every employer shall pay an excise tax, with respect to having individuals in his employ, equal to the following percentages of the wages (as defined in sectio n 811) paid by him after December 31, 1936, with respect to employment (as defined in section 811) after such date : (1) With respect to employment during the calendar years 1937, 1938, and 1939, the rate shall be 1 per centum . (2) With respect to employment during the calendar years 1940, 1941, and 1942, the rate shall be 1 1/2 per centum. (3) With respect to employment during the calendar years 1943, 1944, and 1945, the rate shall be 2 per centum . (4) With respect to employment during the calendar years 1946, 1947, and 1948, the rate shall be 21/2 per centum. (5) With respect to employment after December 31, 1948, the rate shall be 3 per centum . ADJU STME NT OF EMPL OYER 'S TAX SEC. 80 5 . If mor e or less than th e correct amount of tax imposed by section 804 is paid with respect to any wage payment, then, under regulations made under this title, proper adjustments with respect to th e tax shall be ma de, without inter est, in connectio n with subse- quent wage payments to the same individual by the same employer . REFUNDS AND DEFICIENCIES SEC. 806 . If more or less than the correct amount of tax imposed by section 801 or 8 04 is paid or ded ucted with respec t to any wage p aym ent and the ove rpa ymen t or un derp aym ent of tax cann ot be adjusted under section 802 (b) or 805 the amount of the overpayment sh all be refunded a nd the amount of the underpayment shall be col- lected, in such manner and at such times (subject to the statutes of limitations properly applicable thereto) as may be prescribed by regulations made under this title . COLLECTION AND PAYMENT OF TAXES SEC . 807 . (a) The taxes imposed by this title shall be collected by the Bureau of Internal Revenue under the direction of the Secretary of the Treasury and shall be paid into the Treasury of the United States as internal-revenue collections. If the tax is not pa id wh en due, there shall be added as part of the tax interest (except in the case o f adjustments mad e in accordance w ith the provision s of sec- tions 802 (b) and 805) at the rate of on e-half of 1 per c entum per month from the date the tax became due u ntil paid . (b) Such taxes shall be collected and paid in such manner, at such times, and under such c onditions, not in consistent with t his title (either by making and filing returns, or by stamps, coupons, tickets, books, or other reasonable devices or method s necessary or he lpful in securing a complete and proper collection and payment of the tax or in securing proper identification of the taxpayer), as may be pre- scribed by the Commissioner of Internal Reve nue, with the app roval of the Secretary of the Treasury . Deductibility from income tax . Vol. 48, p . 688; Post, p. 1014. Excise tax on em- ployers. Pay ment by. Vol. 48, pp. 688-691. Post, p . 639. Rates . Adj ustme nt of em- ployers' tax . Regulations . Refunds a nd defi- ciencies . Collection and pay- ment of taxes . Collection . Tax interest on pay- ment in default . Rate . Regulations govern- ing payment .
