Page:United States Statutes at Large Volume 54 Part 1.djvu/1042

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tion shall be allowed as a credit against its tax the amount required Antc,p.007. by section 396 to be paid by the personal service corporation of which it is a shareholder with respect to its tax liability under Ante, p. 1005 . Supplement S.". SEC. 506. CHANGE OF NAME OF EXISTING EXCESS-PROFITS TAX. 53 Stat. 111 . 26 U. S. C., Supp. V, §§600-604. 53 Stat. 12. 26 U. S. C., Supp. V, §23(c) (1). 53 Stat. 111. 26 U. 8. C., Supp. V, S 600-603 . 53 Stat. 29. 26 U. S. C., Supp. V, §55 (a) (2). Limitation on as- sessment and collec- tion. 53 Stat. 400 . 26 U. S. C., Supp. V, § 3312. Abatement, credit, and refund of taxes. 53 Stat. 464. 26 U. S. C., Supp. V, §3770 (a) (1). National Service Life Insurance Act of 1940. "Person" defined. Ante, p. 885. "A dministrator." (a) Subchapter B of Chapter 2 of the Internal Revenue Code is amended, effective February 10, 1939, by striking out, in the head- ing of such subchapter, "EXCESS-PROFITS TAX" and insert- ing in lieu thereof "DECLARED VALUE EXCESS-PROFITS TAX", and by striking out, in the first paragraph of section 600 of such subchapter, "excess-profits tax" and inserting in lieu thereof "declared value excess-profits tax". (b) Section 23 (c) (1) of the Internal Revenue Code (relating to taxes not deductible in computing net income) is amended, effective February 10, 1939, to read as follows: "(1) Federal income, war-profits, and excess-profits taxes (other than the excess-profits tax imposed by section 106 of the Revenue Act of 1935 (49 Stat. 1019), or by section 602 of the Revenue Act of 1938 (52 Stat. 567), and other than the declared value excess-profits tax imposed by section 600) ;". SEC. 507. PUBLICITY OF RETURNS OF SUBCHAPTER E EXCESS PROFITS TAX. Section 55 (a) (2) of the Internal Revenue Code is amended by striking out "Subchapters A, B, and D of Chapter 2" and inserting in lieu thereof "Subchapters A, B, D, and E of Chapter 2". SEC. 508. TECHNICAL AMENDMENTS. (a) LIMrrATION NO ASSESSMENT AND COLLECTION.- Section 3312 of the Internal Revenue Code (relating to period of limitation on assess- ment and collection of taxes) is amended by striking out "Except in the case of income, estate, and gift taxes" and inserting in lieu thereof "Except in the case of income, war-profits, excess-profits, estate, and gift taxes". (b) ABATEMENT, CREDIT, AND REFUND OF TAXEs. -Section 3770 (a) (1) of the Internal Revenue Code (relating to authority to abate, credit, or refund tax) is amended by striking out "Except as other- wise provided by law in the case of income, estate, and gift taxes" and inserting in lieu thereof "Except as otherwise provided by law in the case of income, war-profits, excess-profits, estate, and gift taxes". TITLE VI-NATIONAL SERVICE LIFE INSUR- ANCE AND PROVISIONS AFFECTING THE RAILROAD RETIREMENT BOARD Part I-National Service Life Insurance SEC. 601. When used in this part- (a) The term "person" means (1) a commissioned officer; (2) a warrant officer; (3) enlisted personnel (including persons selected for training and service under the Selective Training and Service Act of 1940); (4) a member of the Army Nurse Corps (female); and (5) a member of the Navy Nurse Corps (female); (b) The term "Administrator" means the Administrator of Vet- erans' Affairs; 1008 [54 STAT. PUBLIC LAWS-CH. 757-OCT. 8, 1940