52 STAT.] 75TH CONG. , 3D SESS.-CH. 289-MAY 28, 1938 be added to the tax: 5 per centum if the failure is for not more than thirty days with an additional 5 per centum for each additional thirty days or fraction thereof during which such failure continues, not exceeding 25 per centum in the aggregate. The amount so added to any tax shall be collected at the same time and in the same manner and as a part of the tax unless the tax has been paid before the discovery of the neglect, in which case the amount so added shall be collected in the same manner as the tax. The amount added to the tax under this section shall be in lieu of the 25 per centum addition to the tax provided in section 3176 of the Revised Statutes, as amended. SEC. 292. INTEREST ON DEFICIENCIES. Interest upon the amount determined as a deficiency shall be assessed at the same time as the deficiency, shall be paid upon notice and demand from the collector, and shall be collected as a part of the tax, at the rate of 6 per centum per annum from the date pre- scribed for the payment of the tax (or, if the tax is paid in install- ments, from the date prescribed for the payment of the first install- ment) to the date the deficiency is assessed, or, in the case of a waiver under section 272 (d), to the thirtieth day after the filing of such waiver or to the date the deficiency is assessed whichever is the earlier. SEC. 293. ADDITIONS TO THE TAX IN CASE OF DEFICIENCY. (a) NEGLIGENCE. -I f any part of any deficiency is due to negli- gence, or intentional disregard of rules and regulations but without intent to defraud, 5 per centum of the total amount of the deficiency (in addition to such deficiency) shall be assessed, collected, and paid in the same manner as if it were a deficiency, except that the pro- visions of section 272 (i), relating to the prorating of a deficiency, and of section 292, relating to interest on deficiencies, shall not be applicable. (b) FRAUD.- If any part of any deficiency is due to fraud with intent to evade tax then 50 per centum of the total amount of the deficiency (in addition to such deficiency) shall be so assessed, col- lected, and paid, in lieu of the 50 per centum addition to the tax provided in section 3176 of the Revised Statutes, as amended. SEC. 294. ADDITIONS TO THE TAX IN CASE OF NONPAYMENT. (a) TAX SHOWN ON RETURN. - (1) GENERAL RULE.- Where the amount determined by the taxpayer as the tax imposed by this title, or any installment thereof, or any part of such amount or installment, is not paid on or before the date prescribed for its payment, there shal be collected as a part of the tax, interest upon such unpaid amount at the rate of 6 per centum per annum from the date prescribed for its payment until it is paid. (2) IF EXTENSION GRANTED.- W here an extension of time for payment of the amount so determined as the tax by the taxpayer, or any installment thereof, has been granted, and the amount the time for payment of which has been extended, and the interest thereon determined under section 295, is not paid in full prior to the expiration of the period of the extension, then, in lieu of the interest provided for in paragraph (1) of this subsection, interest at the rate of 6 per centum per annum shall be collected on such unpaid amount from the date of the expiration of the period of the extension until it is paid. Collection. In lieu of former levy. R. S. § 3176. 26U.S. C. §1512. Interest on deficien- cies. Assessment, etc. In case of waiver. Ante, p. 535. Additions to tax in case of deficiency. Negligence. Ante, p. 536. Fraud. R. S. §3176. 26U.S. C. 1512. Additions to tax in case of nonpayment. Tax shown on re- turn. General rule. Interest. If extension granted. Interest. 541
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