Page:United States Statutes at Large Volume 44 Part 2.djvu/121

SIXTY·NINTH CONGRESS. Sess. I. i Ca. 27. 1926. S`]. (2) If the period of limitation for assessment the exec- “'**’*,*¤·, H H utor expired before time enactment of this Act but assessment against £§¤’°¤°$g¤m¤¤$Z the executor was made within such period,·—-then within six years ‘ after the making ofsuch assessment against the executor, but in no '*`*¤* mdm- case later than one year after the enactment of this Act. IY;) _If a court proceeding against the executor or donor for the p£{•hf:j¤ *¤ °°*¤‘ eo tion of the tax has within either of the above periods,y-then within one year a r return of execution in such proceeding. . _1 (c) The running of the period of limitation upon the assessment ,,§,‘§‘Y,°“‘°” °‘““‘*°* of the liability of atransferee or fiduciary shall, after the mailing ¤¤_g¤n:¤g:?g?bnm M of the notice under subdivision is:) of section. 308 to the transferee '°' ' or_ fiduciary, be suspended for e period during which the Com- m1ssxoner_1s prohibited from making the assessment in respect of tig? liability of the transferee or fiduciary, and for 60 days ,there— a er. - . . » (d) This section shall not apply to any suit or other proceeding ,¤E§L‘,‘§’f" '°‘“ "°" for the enforcement of the ha ' ity of a transferee or fiduciary pending? the t_ime of the enactment of this Act. U 1 (et; d in tlhigisspcttilon, the term “ transferee " includes heir, ;,:,‘?$“°" °’ tm"' , evisee, an ri tee. _ 0%::0. 317. (a) Upon notice to the Commissioner that any person is ,,(N,§X$°,,‘§f§’1°c‘Tf“,‘§°’g‘,{l acting as executor, such person shall assume the powers, ri hts, °°°‘°’- duties, and privileges of an executor in respect of a tax by this title or by any prior estate tax Act, until notice is given that such mon is no longer acting as executor. N H { i (bi)€Upon notice to the Commissioner that any person is acting erpgw?s?e“z:>?f1£li1td(h!{ in a fiduciary cpipacity for a person subject to the liability specified °‘“’· in section 316, e fi uciary shall assume on behalf of such person the powers, rights, duties, and privilegis of such person under such section (except that the liability shall collected from the estate of such perggn), until notice is given that the fiduciary capacity has terminat . (c) Notice under subdivision (a& or ih) shall be given in ac- ”"““°’°’”°"°°· cordanci wgthhregagclations prescribe by t e Commissioner with the a rova o t e re . Pill) In the absence gfrzny notice to the Commissioner under sub- ,,.,¥§,'§’L*“‘ °'°°°°“"°’ division (a) or (b), notice under this title of a deficiency or other liability, if addressed in the name of the decedent or ot er person sugect te; liatgility and to last known address, shall be su cient ort e uiggseso isti e. d Sno. 318. (ta) II a r the enactgnenggfbtghis Aict the Commisgioner agi? `";°°' ""°' etermines t at any assessment ou ma e in res t o any _,,§,¤f,,°,,,,*’_’°,{,§°d estate or gift tax imposed by the Revenue Act of 191’£Bfhe Revo- ••¢y°;.;g¤iw?7 nue Act of 1918, the Revenue Act of 1921 or the Revenue Act v¤1.io,i»;£pima·iim§ of 1924, or any such Act as amended, the-Commissioner is author- K}; ,§f‘·m§’,,,,¥§Q'g?“‘F ized to sen by registered mail to the person liable for such, tax notice of the amount proposed to be assessed, which notice shall, for the purposes of this ct, be considered a notice under sub- Tu com md M U division (a) of section 308 ofthis Act. In the case of ani such mam mfnorpama. determination the amount which should be assessed (whet er as deficiency or additional tax or as ipterest, , or other addition to the tax) shall be computed as if this ct not been enacted, but the amount so computed shall be assesed, collected, and paid in the same manner and subject to the same provisions and limitations (includin the provisions in case of delinquency in payment after notice and demand and the provisions prohibiting claims and suits for refund) as in the case of a deficiency in the tax by m§‘,{§{"“°*°° °’”°°” this title, except that in the case of an estate im by the 43se2•-27-—e