§ 1024 ‘ of TITLE 86.··—~—·INTERB $1,000 or were in any taxable yur, or, in the case of such pay! 1 ments roads by the United States, the oEce¤ or employees of 1 the United ntatm haring inforwationas to such- paymwfs and t required to make returns @1*1 thereto hy the regulation} c ·hcrelnaf¥cr presided for, shall rencler a true and accurate rc— turn to the Commi&ner~ot”Ini:e1:nal Revenue, nnder such 1 regulations and in such form and manner and to snob extent “< as may he prescribed hy’hi1n_vyith the approval ot, the Secre· l i tary oi the Treasury, setting forth the amount of mtclx gains, 1 proqts, and income; and the nameand `address or the recipient i ofsnchxymnt »_ ‘ ~ · `1 Such returns may be required, regardlx of amounts, _(1) cli: j the —<~a@‘ofp"`§3=@11ts of interest upon honda, mortgages, deeds 4 of trust, or other similar obligations- of corporations, and (2) al in the cane of collections or items (not payable in the United 1 Sta tes) of interest `upon the bonds .of foreign countries and 1 Interwt upon the bonds of and dividends from Foreign corpora- 4 tions h? Qéfnons undertaking as a matter ot businw or for —1 prom: fthe collection of foreign payments ot such lnterest_ or 1 dividends by mans of coupons, checlm, or, bills or exchange. • When nocemary to rnake eifectlve provisions of this sece l tion the nano and address of tm recipient of income shall be l furnished, upon demand of the persontpayirig the lncoxne. ~ I a < The provisions of, this section shalfnm apply to the payment { of finterest on ohligtiona of the United States. (June ’1924,`_ J 4·01n·m·v¤·2$4,§266.43St¤t%2.)-. , , __ l. .1024. Ins@lon`; lists of persons making `retums; amount paM.—-—(a) Returns upon which the tax has been deterxnined 5 hy the Commissioner ot Internal Revenue shall constitute pebllc records; hat they shall be open ,to' inspection only upon = order of the President and under rnla and regulations pre- ·‘ scribed hy the Secretary oi the Trwsnry and approved by the ` President: Provided, That the Committeeon, Wa-ye ana, Mmns of the House of Representativg, the Committee on Finance of the Senate, or a specialcornmlttee of the Senate or House, shall have the right to call on the _ Secretary ot the · Treasury for, . and it shall be his duty to furnish, any data of any character contained in or shown by the returns or any of them, that may ` be required ·by' the committee;‘ and any such committee shall -»have the right,5 acting, directly. as a committee,} or by and · through such examiners or agents as it may dwgnate or ap- ’ point, to inspect all or any of the 1feturns,at.sne,h and in . meh manner A-as it {may determine; and relevant or Useful information thus obtained may be submitted; by the coxnmlttee ootainlng it to the Senate or the House, or to both the Senate and House, as the case may be: Provided ferther,,*That the Hproper ‘oQcers of any ·State may. upon thef request ot the governor thereof, have access to- the returns not any corpora- — tion,·~or‘ to an abstract .the_reot_I,showlng the name and income . or the eorporation,,at such times and in such manner as the Secretary may prwcrlbcz Provided further, 'Ifhat all bona Bde shareholders of record owning 1·-_per .centnm_~ or more ot the outstanding stock of any corporation _ éhall, npon . making request of the Commlssioncr of Internal Revenue, he allowed to examine the annual income returns of such corporation (and ot its subsidiaries. Any shareholder who pnrsnant to the pro? .
visions of this aectionis allowed to exarnlneithe return ot any
corporation, and who o akes known in any manner whatever not provided by law `the axnonnt or source of lncomeg profits, loses, expenditure; or any particular thereot, set ”forth or `disclosed in anpanch return, shall begullty of a nilmlemeanor and be. punished by a one not excwdlng $1,060 or by imprisonmoat not exceeding one yur, or both.· J `,· ‘ o ·(b) The Commissioner oi Internal Bevenne shallas soon as _ practicable lneach year to be prepared and gnade available to public inspection in such manner as he may determine, in the omoe of (he collector in each lnternabrevenne district and in such other places as ihe may determine, lists containing
ML REVENUE 828
- m name and the pceeenlce" addrw M each person. makmgml
- nc;eme—tnx return in seen district, torether with the nmouq; U;
be lngsme tax paid by ench person. (June 2, 1924, 4.01 p, ,,g__ 1. 234, [257, 43 Stat. @3.) O · , 1035, Dip¢l@re by %i•ls_cr d iic0¤e-ta; t’ returns unlawful;-·It shell be an- my cellecmr, ieputy collector, agent, er" clerk. td divulge ei, to make -knmx nl. .11 any manner whatever not provided hw dur to any pemn
- né /amount_ or source of inccme, ,pr¢§t¤,`!¤m¤, épendlture.,
sr any particular therect, pet forth'01·. eiiseling in {ny income return, of any manufacture! `or producer viétedhy him in the iiecharge of _ his c&cie1 dxmu or- to permit eny tlncme return or copy thereof or any book containing any ehmact ct particulnrs thereof te be ewn or examined bi any, , + exeem as _ provided by lawi end it shall be unlawful fer ¤y· person 'm print- oi publish in qny manner whatéier nm @@1 bi lesw any lncome return or any dpart thereof er scene of lncome, prptlts, lbsses, or expendltnres in any return; and any` btfense against the Ioregclng }}1‘QY$$@’_ wll be Ya misdemeanor gend beyspnnished by h line not ex wx $1,L&0'Sr by lxnprlsonment not exceeding 0ne¢yea1·,_ cr at the disérei tion qt the ,C0l11't;_ and if the oilender he sn c@cer for mpleyee qi Ethe United States heshnll be dlmiseed-from or elise cnapgealrmm em`pl0yment..` (R. S.] 3167*;; Aug. 27,, 1&4,‘c; 349, § 34, 28 Stat. 557; Oct. 8, 1913, c. 16·,»§ Hel, % 17‘I; sépms; /1916, c. 4es, sim; as smxns; Fen. ee, 1919,.c. 1s,- §' 1317, 40 S-tht; [1146; Nov-23, 1921, c. 138, {1311, 42 Stat. 311;hJune 2,1924, c. 234,_4.01`.p. rn.;] 1018, 43 Stat. 845.) _ 1026. Statistics ofoperatinn of Conunis- N sinner pt Internal Revenue, with the nppreml ei the Secretary of the Treasury, Shall prewre and punuen. natbtlcs reasonably available with respect to the eperancn cd the in cbme, waQ1··pr0Hts. and ·excess·prb¤ts tax laws, clgssincntiqns of taxpayers and ot income, the amennhé allowed as deductions,. exemptions, and credlts any other was ®wed pertinent and valuable. (June 2,1924, 4.01 p. ni.; c. @4. { 58, f13Stat.®3.) n ’; ·._ · I . a 1027. Licenses to ind regnlstm nf person! cellcetks fereign payments nf interest er dirid@d¤; pcnaltyq-—All ncrwee undertaking as a` matter of hnsinese cr for proilt the celmtien ot foreign payments 'of __ interest or dividends by' meme ef coupons,. checks, or bills of exchange shall obtain s license {rem the Comrnieslnner of Internal Revenue. and shall be subject Ytc snch regulations enabling the Government to obtain the infernmtidn requirédnnder this cheilfef es the "snid ce@@icmr, with the approval oi the Secretary ci the ‘T y, sm!} pre scribe; and whoever knowingly undertakes to collect such, pay: ments without having obtained a license therefor, er withent fcémplylng with such regulations; shall be guilty ei e n:zisde—· mezmor and shell penned nét mqrethun $5.000, ol: imprimn@ torrnot more than one year, or both. (June 2, 1924, 4.01 p. rn., c; 234, _§`259, 43"Stat. _%3.) . _ _ S ’ S _i 1028. S Citizens of United States possessions: taxstien ef; Virgin Islands.——Any individual who is a `clthen otnny pewsslqn of the United States (but not otherwise e citizen Jef me _United States) and who is _ not e resident ot United States, `shall be subject to taxation under this chamer only de_ _t0 inccme derived from sources {within the United Stnt&, and in such case the ta;} shell be computed nndipaid in the seme manner and subject t0— the same ccnditlcns is the case of other spersens who ere taxable only és to income derived from suchenurcee. __ jd ‘ he i·— _ ·_ ·> Nothing ln this section shell be construed to alter en emgnd the p;_;_cyisien,s otlssectton 1397 et Title 48, relating to the impultion ctx income taxes in the Yimn Islands. of the United . Suites. `*Z(Jnne 2,.1924, 4.01 p."”En,, c. 234, { 260. 43 Stat. $4;) 1629. Pcrtn Rice and Phihippim klsmdp; levy, ssaunent, collecting and payment of tai.-—In Pertn Rico and the Phllip-
