Page:United States Statutes at Large Volume 40 Part 1.djvu/1119

sixrrmrrn coivonnss. sm. III. Ch. 18. 1919. 1101 against the estate and expenses of its administration, allowed by an Em"! Mxeourt having jurisdiction thereof, shall be divested of such lien, Iii ,,fj°“*“° °'“’°"“°'“· the Commissioner is satisfied that the tax liability of an estate has been fully discharged or provided for, he may, under regulations prescribed by him with the approval of the Secretary, issue his certificate releasing any or all property of such estate from the lien herein imposed. . If (a) e decedent makes a transfer of, or creates a trust with an';}g;;,ggg°},’§,*;$_{°°{:,§hf respect to, any property in contemplation of or intended’ to take effect in possession or engnplyinent at or after his death (except in the case of a bona tide e for a fairconsideration in money or money’s worth) or (b) if insurance passes under a contract executed by the decedent in favor of a specific beneficiary, and if in either case the tax in respect thereto is notpaid when due then the transferee trustee,· or beneficiary shall be personally liable for such tax, and such property, to the extent of the deced6nt’s interest therein at the time of such transfer, or to the extent of such~·beneficiary’s*interest undlqr suchcontiiact qi insuragcle, shall bp sul§ect·to a= likellliep equg to the amount 0 suc tax. part 0 suc property so fysu " mm; p.,m;,,,,,. transferee or trustee to a bona Elle purchaser for a fair consideration ‘°"•’°•°*¤°P‘°d· in mens? or money’s worthshall be divested of the lien and a lien sh then attach to all the property of such transferee or trustee, ‘ · " except any part sold to a bona de purchaser for a·fair consideration in money or money’s worth. _ Sec. 410. That whoever knowingly makes any false statement in P¤¤1¤hr&¤¤¢f¤rfsl¤¤ any notice or return required to be ed under this title shall be liable "°°"”’° ° to a penalty of not exceeding $5,000, or imprisonment not exceeding 0D$Vl,1°ar, Orfldiiiih. li `th d ( Y ed him b P°¤’*“ ‘°’,,,‘”***‘**’,,,,,,,g oever tocom wr an ut impos u n sec- , Y tion 404,1or, having ingnie possessilim orycontrol- record, file, or paper, coutainhig or supposedto contain any information concerning the estate of the decedent, or, having in his possession or control any property comprised in the gross estate of the decedent, fails to exhibit the same upon request to the Commissioner or any collector or law officer of the United States, or his duly authorized deput or agent, who desires to examine the same in the performance ofy his duties under this title, shall be liable to a penalty of not exceeding $500, to be recovered, with costs of suit, in a civil action in the name of the United States. TITLE V.—TAX ON TRANSPORTATION AND OTHER ”*”°'°“*“°"’ “"· FACILITIES, AND ON INSURANCE. Ssc. 500. That from and after April 1, 1919, there shall be levied, ,,,{gj"°d °“°' AP"] *· assessed, collected, and paid, in lieu of the taxes imposed by section xm, 9.314. 500 of the Revenue Act of 1917- t { t t (a) A tax_ equivalent to 3 er centum of the amoimt paid for the ,,,},,_§,§"°’ ° °’ ° °‘* transportation on or after suclii date, by rail or water or y any form of mechanical motor power when in competition with carriers y rail or water, of property by freight transported from one point in the United States to another; and a like tax on the amoimt paid for such transportation within the United States of property transported from a point without the United States to a point within the United States; (b) A tax of 1 cent for each 20 cents or fraction thereof of the E‘P'°°"m°"°°°°` amount paid to any person for the transportation on or after such date, by rail or_ water or by any form of mechanical motor wer when in competition with express by rail or water, of any paclili) e, prarcel, or shipment, by express, transported from one point in the nitcd States_to another; and a like tax on the amount paid for such tramportation within the_United States of property trans rted from a pomt without the United States to a point within the Uonited States;