Page:United States Statutes at Large Volume 49 Part 1.djvu/1717

167 2 Manner, time, and place of inspection . Use of information secured. Unlawful disclosure. Penalty. Paymen t of tax. Time designated . Installment pay- ments. Whole amount, on default . Extension of time for payment . Payment on expira- tion . Volunt ary advance paym ent . Jeopardy payment . Post, p . 1703 . Tax withheld at sour ce . Post, pp . 1700,1702 . Fractional parts of cent . 74TH CONGRESS. SESS. II. CH. 690. JU NE 22, 1936. to make the inspection on behalf of such official, body, or commis- sion . The inspection shall be made in such manner, and at such times and places, as shall be prescribed by regulations made by the Commissioner with the approval of the Secretary . (2 ) Any inf ormation t hus secur ed by any official , body, o r com- mission of any State may be used only for the administration of the tax laws of such State, except that upon written request of the Gov- ernor of such State any such information may be furnished to any official, body, or commission of any political subdivision of such State, lawfully charged with the administration of the tax laws of such political subdivision, but may be furnished only for the purpose of, an d may be used only for, the administr ation of such tax laws . Any officer, employee, or agent of any State or political subdivision who divulges (except as authorized in this subsection, or when called upon to testify in any judicial or administrative proceeding to which the State or political subdivision, or such State or local official, body, or commission, as such, is a party) any information acquired by him through an inspection permitted him or another under this subsec- tion shall be guilty of a misdemeanor and shall upon conviction be punished by a fine of not more than $1,000, or by imprisonment for not more than one year, or both. SEC. 56. PAYMENT OF TAX . (a) TI ME OF PAYMENT.-The total amount of tax imposed by this title shall be paid on the fifteenth day of March following the close of the calendar year, or, if the return should be made on the basis of a fiscal year, then on the fifteenth day of the third month following the close of the fiscal year . (b) INSTALLMENT PAYMENTS .-The taxpayer may elect to pay the tax in f our equa l instal lments, in which case th e first i nstallme nt shall be paid on the date prescribed for the payment of the tax by the taxpayer, the second installment shall be paid on the fifteenth day of the third month, the third installment on the fifteenth day of the sixth month, and the fourth installment on the fifteenth day of the ninth month, after such date . If any installment is not paid on or before the date fixed for its payment, the whole amount of the tax unpaid shall be paid upon notice and demand from the collector . (c) EXTENSION OF TIME FOR PAYMENT .-At the request of the tax- payer, the Commissioner may extend the time for payment of the amount determined as the tax by the taxpayer, or any installment thereof, for a period not to exceed six months from the date pre- scribed for the payment of the tax or an installment thereof . In such case the amount in respect of which the extension is granted shall be paid on or before the date of the expiration of the period of the extension . (d) VOLUNTARY ADVANCE PAYMENT:A tax imposed by this title, or any installment thereof, may be paid, at the election of the tax- payer, ADVANCE to the date prescribed for its payment . (e) ADVANCE PAYMENT IN CASE OF JEOPARDY .-For advance pay- ment in case of jeopardy, see section 146 . (f) TAX WITHHELD AT SOURCE.-For requirement of withholding tax at the source in the case of nonresident aliens and foreign corpo- rations, and in the case of so-called "tax-free covenant bonds", see sections 143 and 144 . (g) FRACTIONAL PARTS OF CENT.-In the pa yment of any tax under this title a fractional part of a cent shall be disregarded unless it amounts to one-half cent or more, in which case it shall be increased to 1 cent.