Page:United States Statutes at Large Volume 38 Part 1.djvu/190

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SIXTY-THIRD CONGRESS. Sess. I. C11. 16. 1913. 171 ing the tax to_be withheld at the source and deducted from annual ,,§:‘>¤ ’¤—°¢>¤· income and paid to the Government; and likewise the amount of such ru to be withheld tax shall be deducted and withheld from coupons, checks, or bills of E'ab$iik.$¤il’oieti§ti»ri»i]i} exchange for or in payment of interest u n bonds of foreign countries ¤*¤°¤¤·di'id°¤¤=»¢*¤—

 ulpon foreign mortgages or hke obligations (not_Ip;.yable in the

Unite _ States), and also om coupons, checks, or b1 _ of exchange for or in payment of any dividends upon the stock or mterest upon the obligations of foreign corporations, associations, and insurance coipams mad ssairdmdtresdczumsi ·22h**:: is in Pm M eac casesa wi e an uce oranm a can person subject to the tax hereinbefore imposed, although such interesg `vidends, or other compensation does not exceed $3,000, b any banker or person who shall sell or otherwise realize coupons, clsiecks, or of exchange drawn or made iaxpagment of any such interest or d1v1dends_(not payable m_the Um _ tates), and anylperson who shall obtam ayment (not m the United States), m beh of another of such dividlends and interest by means of coupons, checks, or bills of exchan e, and also any dealer in such coupons who shall purchase ghe same fg? any suclh diyridendsb<;ii·u§(nterest (nogpaylalge the `[gnited tates , otherwiset an oma er or anot er e ermsuc coupons; but in each case the benefit of the exemption and the deduction F¤¤¤¤¤¤°¤=· allowable under thes Egction may lbe had by complying with the foreoin revisions 0 t aragra . g All Ilieisons, firms, or cldrporatgms undertaking as a matter of busi- ness_or for profit the collection of foreigps payments of such mterest m°¤“· or dividends by means of coupons, chec , or bills of exchange shall obtam a license from the Commissioner of Internal Revenue, and

 be subject to such regulations enabling the Government to ascertain end verify the due withholding and payout of the income tax

required to be withheld and paid as the mmissioner of Internal Revenue, with the approval o the Secretary of the Treasury, shall _ prescribe; and any erson who shall kno ly undertake to collect such payments as afbresaid without having obtained a license therefor, or without complying with such r?ulations, shall be deemed guilty of a misdemeanor and for each o ense be fined in a sum not exceeding $5,000, or imprisoned for a term not exceeding one year, orlgoth, m the£scretionelfJ;1hle court. d I bl N t bl mbmy cthmi in t sections e construe to re ease a taxa e erson ,..k,,§’.,..“’f°t§u.·., 2.,,.. from liab for income tax, nor shall any contract entered intii after *¤¢¤ Widthis Ac; ta es effecf belvtalid in regard to any Federal mcome tax impose u on a crson 'a e to suc a ent. The taxlliereinpimposed upon annual gjalilis, profits and income not ,,,f,"{$,°$‘,’,*,{‘§§‘.$.,€°.§‘,,,L*`j'l' fallingunder the foregoing and not returned and paid by virtue of the foregoing shall be assessed by personal return under rules and regulations to be prescribed by the Commissioner of Internal Revenue and approved y the Secretary of the Treasury. _ Pa t I t t The revisions of this section relating. to the deduction and pay- ,.,u,.,.’Z‘}‘f,’Qm3_ ’”‘ ° ment of) the tax at the source of income s all only apply to the normal tax hereinbefore imposed upon individuals. _ Yum? mmmab ai- 323*:;:.:*,ms 2::<e.;°ss:*z2¤s:;.;t2;°:;sssazzt s~··~·¤· I aforesaid shall refuse oi? neglect to make a return at the time or times hercinbefore specified in each year, such person shall be hable to a ' penalg of not less than $20 nor more than $1,000. Any person or m§,“,’;’sf’;’§f“"°’*“* any officer of any co oration required by law to make, render, sign, or verify any return vibe makes any false or fraudulent return or statement with intent to defeat or evade the assessment requued by this section to be made shall be gsilty of a misdemeanor, and shall be fined not exceeding $2,000 or e imprisoned not exceeding one year, or both, at the discretion of the court, with the costs of prosecution.