Sec. 275. Period of limitation upon assessment and collection. Sec. 277. Suspension of running of statute. SUPPLEMENT M-INTEREST AND ADDITIONS TO THE TAX Sec. 291. Failure to file return. Sec. 292. Interest on deficiencies. Sec. 293. Additions to the tax in case of deficiency. Sec. 294. Additions to the tax in case of nonpayment. Sec. 295. Time extended for payment of tax shown on return. Sec. 297. Interest in case of jeopardy assessments. Sec. 298. Bankruptcy and receiverships. Sec. 299. Removal of property or departure from United States. SUPPLEMENT N--CLAIMS AGAINST TRANSFEREES AND FIDUCIARIES Sec. 311. Transferred assets. Sec. 312. Notice of fiduciary relationship. SUPPLEMENT O-OVERPAYMENTS Sec. 321. Overpayment of installment. Sec. 322. Refunds and credits. TITLE IA-ADDITIONAL INCOME TAXES Sec. 351. Surtax on personal holding companies. TITLE II-CAPITAL STOCK AND EXCESS-PROFITS TAX [1936 ACT] TITLE V-CAPITAL STOCK AND EXCESS-PROFITS TAX [1934 ACT] Sec. 701. Capital stock tax. Sec. 702. Excess-profits tax. Sec. 703. Capital stock tax and excess-profits tax imposed by National Industrial Recovery Act. TITLE II-AMENDMENTS TO ESTATE TAX [1934 Act] Sec. 401. Revocable trusts. Sec. 402. Prior taxed property. Sec. 403. Citizenship and residence of decedents. Sec. 404. Real estate situated outside the United States. Sec. 405. Estate tax rates. Sec. 406. Nondeductibility of certain transfers. TITLE III-AMENDMENTS TO PRIOR ACTS AND MIS- Sec. 501. Period for petition to board under prior Acts. Sec. 504. Overpayments found by the Board of Tax Appeals. Sec. 506. Retroactivity of regulations, rulings, etc. Sec. 507. Examination of books and witnesses. Sec. 508. Sale of personal property under distraint. Sec. 510. Jeopardy assessments. Sec. 511. Gifts of property subject to power. Sec. 512. General counsel for the Treasury. Sec. 513. Assistants in the Treasury. Sec. 514. Penalties and awards to informers with respect to illegally produced petroleum. Sec. 515. Postal rates. Sec. 516. Commissioner as party to suit. Sec. 517. Nondeductibility of certain gifts. Sec. 518. Liability of fiduciary. Sec. 519. Venue for appeals from Board of Tax Appeals. Sec. 520. Gift tax rates. TITLE III-TAX ON UNJUST ENRICHMENT [1936 Sec. 501. Tax on net income from certain sources. Sec. 503. Administrative provisions. Sec. 504. Taxable years to which title is applicable. Sec. 506. Closing agreements. TITLE IV-EXCISE TAXES [1934 ACT] Sec. 601. Termination of soft drink tax. Sec. 602. Tax on certain oils. Sec. 60212. Processing tax on certain oils. Sec. 605. Tax on refining of crude petroleum. Sec. 606. Termination of bank check tax. Sec. 607. Enforcement of liability for taxes collected. Sec. 609. Tax on jewelry, etc. Sec. 610. Tax on cigarettes. Sec. 611. Tax on matches. Sec. 612. Stamp tax on sales of produce for future delivery. Sec. 614. Termination of tax on candy. TITLE IV-EXPORT, CHARITABLE, ETC., REFUNDS AND FLOOR STOCKS ADJUSTMENT UNDER AGRICULTURAL ADJUSTMENT ACT [1936 ACT] Sec. 601. Refunds under Agricultural Adjustment Act on exports, deliveries for charitable distribution or use, etc. Sec. 602. Floor stocks as of January 6, 1936. Sec. 603. Proclamations, etc., made applicable. Sec. 604. Repeals. TITLE V-AMENDMENTS TO TAXES ON CERTAIN OILS [1936 ACT] Sec. 701. Tax on certain oils. Sec. 702. Processing tax on certain oils. TITLE VI-MISCELLANEOUS PROVISIONS [1936 ACT] Sec. 801. Exemption from admisisons tax of certain concerts. Sec. 803. Interest on erroneous refunds. Sec. 804. Interest on overpayments. Sec. 805. Estate taxes-Revocable transfers. Sec. 806. Registration under the narcotic laws. Sec. 807. Reconsideration of refund claims. Sec. 808. Interest on judgments. Sec. 809. Termination of jewelry tax. Sec. 810. Tax on furs. Sec. 811. Importation of shingles. TITLE VII-REFUNDS OF AMOUNTS COLLECTED UN DER THE AGRICULTURAL ADJUSTMENT ACT [1936 ACT] Sec. 901. Repeals. Sec. 902. Conditions on allowance of refunds. Sec. 903. Filing of claims. Sec. 904. Statute of limitations. Sec. 905. Jurisdiction of courts. Sec. 906. Procedure on claims for refunds of processing taxes. Sec. 908. Interest on claims. Sec. 909. Limitations on review. Sec. 910. Liability of collectors. Sec. 911. Inapplicability to certain refunds. Sec. 912. Period not extended. Sec. 913. Definitions. Sec. 914. Authority of Commissioner. Sec. 915. Salaries and administrative expenses. TITLE VI VIII-GENERAL PROVISIONS Sec. 801 1001. Definitions. Sec. 802 1002. Separability clause. Sec. 803 1003. Effective date of Act. TITLE I-INCOME TAX SUBTITLE A-INTRODUCTORY PROVISIONS SEC. 1. APPLICATION OF TITLE. The provisions of this title shall apply only to taxable years beginning after December 31, 1933 1935. Income, war-profits, and excess-profits taxes for taxable years beginning prior to January 1, 1934 1936, shall not be affected by the provisions of this title, but shall remain subject to the applicable provisions of prior revenue Acts, except as such provisions are modified by Title III of this Act or by legislation enacted subsequent to this Act. SEC. 2. CROSS REFERENCES. The cross references in this title to other portions of the title, where the word "see" is used, are made only for convenience, and shall be given no legal effect. SEC. 3. CLASSIFICATION OF PROVISIONS. The provisions of this title are herein classified and designated as Subtitle A-Introductory provisions, Subtitle B-General provisions, divided into Parts and sections, Subtitle C-Supplemental provisions, divided into Supplements and sections. SEC. 4. SPECIAL CLASSES OF TAXPAYERS. The application of the General Provisions and of Supplements A to D, inclusive, to each of the following special classes of taxpayers, shall be subject to the exceptions and additional provisions found in the Supplement applicable to such class, as follows: (a) Estates and trusts and the beneficiaries thereof,— Supplement E. (b) Members of partnerships,-Supplement F. (d) Nonresident alien individuals,-Supplement H. (e) Foreign corporations,-Supplement I. (f) Individual citizens of any possession of the United States who are not otherwise citizens of the United States and who are not residents of the United States,-Supplement J. (g) Individual citizens of the United States or domestic corporations, satisfying the conditions of section 251 by reason of deriving a large portion of their gross income from sources within a possession of the United States,Supplement J. (h) China Trade Act corporations,—Supplement K. SUBTITLE B-GENERAL PROVISIONS Part I-Rates of Tax SEC. 11. NORMAL TAX ON INDIVIDUALS. There shall be levied, collected, and paid for each taxable year upon the net income of every individual a normal tax of 4 per centum of the amount of the net income in excess of the credits against net income provided in section 25. SEC. 12. SURTAX ON INDIVIDUALS. (a) DEFINITION OF "SURTAX NET INCOME".—As used in this section the term "surtax net income" means the amount of the net income in excess of the credits against net income provided in section 25 (b) (b) RATES OF SURTAX.-There shall be levied, collected, and paid for each taxable year upon the surtax net income of every individual a surtax as follows: |