PUBLIC LAWS-CH. 289-MAY 28, 1938 Form and contents of return. Penalty. Aid, etc., before en- actment of Aot. 50 Stat. 818. 26U.S.C., upp. m, 1 329f, 3 29g. Information returns as to foreign corpora- tions. 60 Stat. 823 . 26 U.S. 0 ., Snpp. mI, ! 329d, 329e, 329g. Interest on unpaid assessments. B.S. 3184. 26U. . . 1545. Application of amendment. Oaths. Administration. Basis of property ac- quired in connection with reorganizations. 49 Stat. 1683. 26 U. S. C., Supp. m, § 113 (7). Transfers to corpo- ration. tion, or reorganization of any foreign corporation, shall, within 30 days thereafter, file with the Commissioner a return. (b) FORM AND CONTENTS OF RETURN. -Such return shall be in such form, and shall set forth, under oath, in respect of each such cor- poration to the full extent of the information within the possession or knowledge or under the control of the person required to file the return, such information as the Commissioner with the approval of the Secretary prescribes by regulations as necessary for carrying out the provisions of the income-tax laws. Nothing in this section shall be construed to require the divulging of privileged communications between attorney and client. (c) PENALTY.- Any person required under subsection (a) to file a return, or to supply any information, who willfully fails to file such return, or supply such information, at the time or times required by law or regulations, shall, in lieu of other penalties provided by law for such offense, be guilty of a misdemeanor and, upon conviction thereof, be fined not more than $2,000, or imprisoned for not more than one year, or both. (d) AID, ETC., BEFORE ENACTMENT OF ACT. - The provisions of sec- tions 340 and 341 (insofar as it relates to section 340) of the Revenue Act of 1936, added to such Act by section 201 of the Revenue Act of 1937, shall remain in force only with respect to aiding, assisting counselling, or advising, on or before the date of the enactment of this Act. SEC. 804. INFORMATION RETURNS AS TO FOREIGN CORPORATIONS. Sections 338 (a), 339 (a), and 341 (insofar as it relates to sec- tions 338 (a) and 339 (a)) of the Revenue Act of 1936, added to such Act by section 201 of the Revenue Act of 1937 shall remain in force only with respect to months beginning on or before the date of the enactment of this Act. SEC. 805. INTEREST ON UNPAID ASSESSMENTS. (a) Section 3184 of the Revised Statutes is amended by striking out at the end thereof the words "and interest at the rate of 1 per centum a month" and inserting in lieu thereof the following: "and interest at the rate of 6 per centum per annum from the date of such notice to the date of payment". (b) The amendment made by subsection (a) shall apply only where notice is served or sent after the date of the enactment of this Act. SEC. 806. ADMINISTRATION OF OATHS OR AFFIRMATIONS. Any oath or affirmation required or authorized by any internal- revenue law or by any regulations made under authority thereof may be administered by any person authorized to administer oaths for general purposes by the law of the United States, or of any State Territory, or possession of the United States, or of the District of Columbia, wherein such oath or affirmation is administered. This section shall not be construed as an exclusive enumeration of the per- sons who may administer such oaths or affirmations. SEC. 807. BASIS OF PROPERTY ACQUIRED IN CONNECTION WITH REORGANIZATIONS. (a) Section 113 (a) (7) of the Revenue Act of 1936 is amended to read as follows: "(7) TRANSFERS To CORPORATION.-If the property was acquired- "(A) after December 31, 1917, and in a taxable year beginning before January 1, 1936, by a corporation in con- 574 [52 STAT.
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