Page:United States Statutes at Large Volume 49 Part 1.djvu/1715

1670 Returns and pay- ment . Individual returns . Requirement . Net income $1,000 or over, if single, etc. Net income $2,500 or over, if mar ri ed and living wi th husband or wife . Gross income $5,000 or over. Husband and wife living together . Sepa rate ret urn . Joint . Persons under disa- bi lit y; by agent, etc . Fiduciaries . Post, p. 1700. Corporation returns . Requirement for making. By receivers, trus- tees, or assignees . Coll ecti on . Filing returns . Time designated . Gene ral rule . Exte nsio n of time . Limitation . 74T H C ONGRESS . SESS. II. CH. 690. JUNE 22, 1936 . Par t Returns and Payment of Tax SEC. 51 . INDIVIDUAL RETURNS . (a) REQUIREMENT .-T he fol lowin g indi vidual s shal l eac h make under oath a return stating specifically the items of his gross income and the deductions and credits allowed under this title and such other information for the purpose of carrying out the provisions of this title as the Commissioner with the approval of the Secretary may by regulations prescribe- (1) Every in dividual having a net in come for the tax able yea r of $1,000 or over, if single, or if married and not living with husband or wife ; (2) Every in dividual having a net in come for the tax able yea r of $2,500 or over if married and living with husband or wife ; and (3) Every individual having a gross income for the taxable year of $5,000 or over, regardless of the amount of his net income . (b) HU SBA ND AND WIFE .-If a husband and wife living together have an aggregate net income for the taxable year of $2,500 or over, or an aggregate gross income for such year of $5,000 or over- (1) Each shall make such a return, or (2 The income of each shall be included in a single joint return, i n which case the tax sh all be c omputed on the a ggregate inc ome . (c) PE RSON S UND ER D IsASu rcY .- If the taxpa yer is unab le to make his own return, the return shall be made by a duly authorized agent or by the guardian or other person charged with the care of the person or property of such taxpayer . (d) FIDUCIARIES.-For returns to be made by fiduciaries, see sec- tion 142 . SEC. 52. CORPORATION RETURNS . Every corporation subject to taxation under this title shall make a return, stating specifically the items of its gross income and the deductions and credits allowed by this title and such other informa- tion for the purpose of carrying out the provisions of this title as the Commissioner with the appro val o f the Secret ary m ay by regulations prescribe. The return shall be sworn to by the presi- dent, vice president, or other principal officer and by the treasurer, assistant treasurer, or chief accounting officer . In ca ses where receivers, trustees in bankruptcy, or assignees are operating the propert y or bus iness of corpora tions, s uch rece ivers, t rustees, or assignees shall make returns for such corporations in the same man- ner and form as corporations are required to make returns . Any tax due on the basis of such returns made by receivers, trustees, or assignees s hall be colle cted in the same manner as if collected from the corporations of whose business or property they have custody and con trol . SEC. 53. TIME AND PL ACE FOR FILIN G RETUR NS. (a) TIME FOR FILING .- (1) GENERAL RULE.-Returns made on the basis of the calendar year shall be made on or before the 15th day of March following the close of the calendar year . Returns made on the basis of a fiscal ye ar shall be made on or before t he 15th day of t he third month following the close of the fiscal year . (2) EXTENSION OF TIME.-The Commissioner may gra nt a rea- sonable extension of time for filing returns, under such rules and regulations as he shall prescribe with the approval of the Secre- tary . Except in the case of taxpayers who are abroad, no such extension shall be for more than six months .