[58 STAT. mated tax shall be paid in three equal installments. The first installment shall be paid at the time of the filing of the declara- tion, the second on September 15 of the taxable year, and the third on January 15 of the succeeding taxable year. "(3) If the declaration is filed after June 15 and not after September 15 of the taxable year, and is not required by section As.,te,. 2 58 (d) to be filed on or before June 15 of the taxable year, the estimated tax shall be paid in two equal installments. Thefirst installment shall be paid at the time of the filing of the declara- tion, and the second on January 15 of the succeeding taxable year. "(4) If the declaration is filed after September 15 of the tax- Anc, p. 2. able year, and is not required by section 58 (d) to be filed on or before September 15 of the taxable year, the estimated tax shall be paid in full at the time of the filing of the declaration. "(5) If the declaration is filed after the time prescribed in Ate, pp. 2 24, . section 58 (d) (including cases in which an extension of time for filing the declaration has been granted under section 58 (e)), paragraphs (2) (3), and (4) of this subsection shall not apply, and there shall be paid at the time of such filing all installments of estimated tax which would have been payable on or before such time if the declaration had been filed within the time pre- Antc,p.242 . scribed in section 58 (d), and the remaining installments shall be paid at the times at which, and in the amounts in which they would have been payable if the declaration had been so filed. "(b) AaENDMEwrs OFDECLARATION.-If any amendment of a dec- laration is filed, the remaining installments, if any, shall be ratably increased or decreased, as the case may be, to reflect the increase or decrease, as the case may be, in the estimated tax by reason of such amendment, and if any amendment is made after September 15 of the taxable year, any increase in the estimated tax by reason thereof shall be paid at the time of making such amendment. "(c) INSTALLMENTS PAID IN ADVANCE.- At the election of the indi- vidual, any installment of the estimated tax may be paid prior to the date prescribed for its payment. "(d) PAYMENT AS PART OF TAX FOR TAXABLE YEAR. - Payment of the estimated tax, or any installment thereof, shall be considered payment on account of the tax for the taxable year. Assessment m respect of the estimated tax shall be limited to the amount paid. Ante, pp.24322. "SEC. 60. SPECIAL RULES FOR APPLICATION OF SECTIONS 58 AND 59. "(a) FARMERS. -In the case of an individual whose estimated gross income from farming for the taxable year is at least two-thirds of the total estimated gross income from all sources for the taxable Ante,p. 2. year, in lieu of the time prescribed in section 58 (d), the declara- tion for the taxable year may be made at any time on or before January 15 of the succeeding taxable year. "(b) APPLICATION TO SHORT TAXABLE YEARS. -T he application of Ante,pp.242 ,24337, sections 58, 59, and 294 (d), and of subsection (a) of this section, 236; infra. to taxable years of less than twelve months shall be as prescribed in regulations prescribed by the Commissioner with the approval of the Secretary. Af pp. 2, 243. u(C) FISCAL YEABs. -In the application of sections 58 and 59, and subsection (a) of this section, to the case of a taxable year beginning on any date other than January 1, there shall be substituted, for the months specified therein, the months which correspond thereto." (b) TECHNICAL AMENDMENT TO SEcnON 294 (d). -The last sen- Aim.p.7. tence of section 294 (d) (1) (A) (relating to additions to the tax in case of failure to file declaration of estimated tax) is amended to PUBLIC LAWS-CH. 210 -MAY 29, 1944 244
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