854
SEVENTIETH CONGRESS . SESS . I. Cx. 852 . 1928 . INCOME TAX
been the correct amount of tax but for the mathematical error, such notice shall n ot be co nsidered (for th e purpos es of th is subse ction, Effect oft or of subsection (a) of this section, prohibiting as ses sm ent and collec tion unt il notic e of def iciency has been mailed, or of s ection rose, p. ssz. 322 (c), prohibiting credits or refunds after petition to the Board of Tax Appeals) as a notice of a deficiency, and the taxpayer shall hav e no rig ht to fi le a pet itio n wi th the B oard bas ed on su ch notice, nor sha ll such assessme nt or co llection be proh ibited b y the provisions of subsection (a) of this section . Jurisdiction over other taxable years . (g) Jur isdictio n over o ther tax able yea rs .-The B oard in rede - termining a def ic ien cy in respect of any taxable year shall co n- sider such facts with relation to the taxes for other taxable years as may be necessary correctly to redetermine the amount of such Lmutatlon, deficiency, but in so doing shall have no jurisdiction to determine whether or not the tax for any other taxable year has been overpaid or underpaid . Date of final decision of Board.
(h) Fi nal d ecisi ons of Board .-For the purposes of this title . the date on whi ch a decision of the Board bec om es fi nal shall be vol . 44, p. 110.
determined according to the provisions of section 1005 of the Reve- nue Act of 1926. Prorating of defi- cie ncy
(1) Prorating of deficiency to installments .-If the taxpayer has to installments . ele cted to pay the tax in installments and a deficiency has be en Infra . assessed, the deficiency shall be prorated to the four installments . Except as provided in section 273 (relating to jeopardy assessments), that part of the deficiency so prorated to any installment the date for pa yment of which h as not a rrived, shall be collect ed at th e same time as and as part of such installment . That part of the deficiency so prorated to any installment the dat e for payment of whi ch has arrived, shall be paid upon notice and demand from the collector . Extension ment allowed, for to avoid (j) Extension of time for payment of deficiencies .-Where it is undue hardship to tax- s payer . howshown to the satisfaction of the Commissioner that the payment of a deficiency upon the date prescribed for the payment thereof will result in undue hardship to the taxpayer the Commissioner, with the approval of the Secretary (except where the deficiency is due to neglig ence, to intenti onal dis regard o f rules and regu lations, or to fraud wi th intent to evade tax), may grant an extension for the payment of such deficiency or any part thereof for a period not in Bon dre qu ire d, excess of eighteen months, and, in exceptional cases, for a further period not in excess of twelve months . If an extension is granted, the Commissioner may require the taxpayer to furnish a bond in such amount, not exceeding double the amount of the deficiency, and with su ch suret ies, as the Comm issioner deems n ecessary , condit ioned upon the payment of the deficiency in accordance with the terms Address for notice of of the extension . deficiency. (k) Add ress for notice of defic iency .- In the absence of notice to the Commissione r under section 312(a) of the existence of a fiduciary relationship, notice of a deficiency in respect of a tax imposed by this title, if mailed to the taxpayer at his last known address, sh all be sufficien t for the purpos es of this title even if such taxpayer is deceased, or is under a legal disability, or, in the case of a corporation, has terminated its existence . Jeo par dy as se ss- ments .
SEC. 273. JEOPARDY ASS ESSMENTS . Deficiency
te ., if immedi- ately assessed , delay .
(a) Authority for making.-If the Commissioner believes that the jeopardized by delay. assessment or collection of a deficiency will be jeopardized by delay, he shall immediately assess such deficiency (together with all interest, additional amounts, or additions to the tax provided for by law) and notice and demand shall be made by the collector for the payment thereof.
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