58 STAT.] 78TH CONG., 2D SESS.--CH. 210-MAY 29, 1944 read as follows: "For the purposes of this subparagraph the amount and due date of each installment shall be the same as if a declaration had been filed within the time prescribed showing an estimated tax equal to the correct tax reduced by the credits under sections 32 and 35." (c) EFFECTIVE DATE. - The amendment made by subsection (a), insofar as it relates to section 58 (a) of the Internal Revenue Code, shall be applicable only with respect to taxable years beginning after December 31, 1944. (d) SPECIAL RULE FOR 1944. -The provisions of sections 58 and 59 of such Code, as amended by this Act, shall be subject to the follow- ing modifications with respect to declaration and payment of estimated tax for the calendar year 1944: (1) TIME FOR FILING DECLARATION. - I f the requirements of section 58 (a) of such Code, without regard to its amendment by this Act, are first met before April 1, 1944, the declaration shall be filed on or before April 15, 1944, and if such requirements are first met after March 31, 1944, and before June 2, 1944, the declaration shall be filed on or before June 15, 1944. (2) PAYMENT OF ESTIMATED TAX. - If the declaration is filed on or before April 15, 1944, then (even though such declara- tion under existing law or under paragraph (1) of this subsection was not required to be filed before June 15, 1944) the estimated tax shall be paid in four equal installments and at the times provided in section 59 (a) (1) of such Code, as amended by this Act. If the declaration is filed after April 15, 1944, and not after June 15, 1944 (and is not required by paragraph (1) to be filed on or before April 15), the estimated tax shall be paid in three equal installments and at the times provided in section 59 (a) (2) of such Code, as amended by this Act. The rule provided in section 59 (a) (5) of such Code, as amended by this Act, shall apply with respect to declarations filed after the time prescribed m paragraph (1) of this subsection. (e) PENALTY FOR UNDERESTIMATE FOR 1944.- For the purposes of section 294 (d) (2) (relating to underestimate of estimated tax), in the case of a taxpayer filing a declaration for a taxable year begin- ning in the calendar year 1944 the term "80 per centum of the tax" as appearing in such subsection shall be taken to refer to 80 per centum of whichever of the following is the lesser: (1) a tax com- puted under the law applicable to such taxable year without regard to the amendments made by this Act, and (2) a tax computed under such law as amended by this Act. SEC. 14. TECHNICAL AMENDMENT OF DEFINITION OF DEFICIENCY. (a) IN GENERAL. -Section 271 (defining the term "deficiency") is amended to read as follows: "SEC. 271. DEFINITION OF DEFICIENCY. "(a) IN GENERAL. -As used in this chapter in respect of a tax imposed by this chapter, 'deficiency' means the amount by which the tax imposed by this chapter exceeds the excess of- "(1) the sum of (A) the amount shown as the tax by the tax- payer upon his return, if a return was made by the taxpayer and an amount was shown as the tax by the taxpayer thereon, plus (B) the amounts previously assessed (or collected without assess- ment) as a deficiency, over- "(2) the amount of rebates, as defined in subsection (b) (2), made. 53 Stat. 24; 56 Stat. 893. 26U.S.C.I32; Supp. III, § 35. Ante, p. 242. Anet, pp . 242, 243. Ante, p. 242. Ante, p. 243. Ante, p. 243. Ante, p. 244. Ante, pp. 38, 236. 53 Stat. 82 26 U.S. c.. VL P~ .p. . 245
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