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INTERNAL REVENUE TITLE

Subtitle B-Miscellaneous Taxes

CHAPTER 9-EMPLOYMENT TAXES SUBCHAPTER A-EMPLOYMENT BY OTHERS THAN CARRIERS

Part II-Tax on Employers

SEC. 1410. RATE OF TAX.

In addition to other taxes, every employer shall pay an excise tax, with respect to having individuals in his employ, equal to the following percentages of the wages (as defined in section 1426 (a)) paid by him * * with respect to employment (as defined in section 1426 (b)) after December 31, 1936 1

(1) With respect to wages paid during the calendar years 1939 to 1949, both inclusive, the rate shall be 1 per centum.

(2) With respect to wages paid during the calendar years 1950 and 1951, the rate shall be 11⁄2 per centum.

(3) With respect to wages paid after December 31, 1951, the rate shall be 2 per centum.

[For nonexemption of Federal savings and loan associations from the tax imposed by section 1410, see section 5 (h) of the Home Owners' Loan Act of 1933, as amended August 10, 1939 (48 Stat. 133; 53 Stat. 1402, § 909; 12 U. S. C. 1464).]

SEC. 1411. ADJUSTMENT OF TAX.

If more or less than the correct amount of tax imposed by section 1410 is paid with respect to any payment of remuneration, proper adjustments with respect to the tax shall be made, without interest, in such manner and at such times as may be prescribed by regulations made under this subchapter.

Part III-General Provisions

SEC. 1420. COLLECTION AND PAYMENT OF TAXES.

(a) ADMINISTRATION.-The taxes imposed by this subchapter shall be collected by the Bureau of Internal Revenue under the direction of the Secretary and shall be paid into the Treasury of the United States as internal revenue collections.

(b) ADDITION TO TAX IN CASE OF DELINQUENCY.-If the tax is not paid when due, there shall be added as part of the tax interest (except in the case of adjustments made in accordance with the provisions of sections * * * and 1411) at the rate of 6 per centum per annum from the date the tax became due until paid.

The statute reads "such date", referring to "December 31, 1936", here omitted.

(c) METHOD OF COLLECTION AND PAYMENT.-Such taxes shall be collected and paid in such manner, at such times, and under such conditions, not inconsistent with this subchapter (either by making and filing returns, or by stamps, coupons, tickets, books, or other reasonable devices or methods necessary or helpful in securing a complete and proper collection and payment of the tax or in securing proper identification of the taxpayer), as may be prescribed by the Commissioner, with the approval of the Secretary.

(d) FRACTIONAL PARTS OF A CENT.-In the payment of any tax under this subchapter 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.

SEC. 1421. OVERPAYMENTS AND UNDERPAYMENTS.

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under section

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If more or less than the correct amount of tax imposed by section 1410 is paid or deducted with respect to any wage payment and the overpayment or underpayment of tax cannot be adjusted * 1411, the amount of the overpayment shall be refunded and the amount of the underpayment shall be collected, in such manner and at such times (subject to the statutes of limitations properly applicable thereto) as may be prescribed by regulations made under this subchapter.

SEC. 1422. ERRONEOUS PAYMENTS.

Any tax paid under this subchapter by a taxpayer with respect to any period with respect to which he is not liable to tax under this subchapter shall be credited against the tax, if any, imposed by subchapter B upon such taxpayer, and the balance, if any, shall be refunded.

SEC. 1423. SALE OF STAMPS BY POSTMASTERS,

(a) SUPPLY.-The Commissioner shall furnish to the Postmaster General without prepayment a suitable quantity of stamps, coupons, tickets, books, or other devices prescribed by the Commissioner under section 1420 (c) for the collection or payment of any tax imposed by this subchapter, to be distributed to, and kept on sale by, all post offices of the first and second classes, and such post offices of the third and fourth classes as (1) are located in county seats, or (2) are certified by the Secretary to the Postmaster General as necessary to the proper administration of this subchapter.

(b) BOND AND ACCOUNTING.-The Postmaster General may require each such postmaster to furnish bond in such increased amount as he may from time to time determine, and each such postmaster shall deposit the receipts from the sale of such stamps, coupons, tickets, books, or other devices, to the credit of, and render accounts to, the Postmaster General at such times and in such form as the Postmaster General may by regulations prescribe.

(c) DEPOSIT OF RECEIPTS.-The Postmaster General shall at least once a month transfer to the Treasury as internal revenue collections all receipts so deposited.

SEC. 1424. EXPENDITURES INCURRED BY THE POST OFFICE DEPART MENT.

The Postmaster General shall at least once a month transfer to the Treasury, together with the receipts required to be deposited under

section 1423, a statement of the additional expenditures in the District of Columbia and elsewhere incurred by the Post Office Department in performing the duties imposed upon said Department by this subchapter, and the Secretary shall be authorized and directed to advance from time to time to the credit of the Post Office Department, from appropriations made for the collection of the taxes imposed by this subchapter, such sums as may be required for such additional expenditures incurred by the Post Office Department.

SEC. 1425. PENALTIES RELATING TO STAMPS AND OTHER COLLECTION DEVICES.

(a) UNAUTHORIZED USE, SALE, ETC.-Whoever buys, sells, offers for sale, uses, transfers, takes or gives in exchange, or pledges or gives in pledge, except as authorized in this subchapter or in regulations made pursuant thereto, any stamp, coupon, ticket, book, or other device, prescribed by the Commissioner under section 1420 (c) for the collection or payment of any tax imposed by this subchapter, shall be fined not more than $1,000 or imprisoned for not more than six months, or both.

(b) COUNTERFEITING, ETC.-Whoever, with intent to defraud, alters, forges, makes, or counterfeits any stamp, coupon, ticket, book, or other device prescribed by the Commissioner under section 1420 (c) for the collection or payment of any tax imposed by this subchapter, or uses, sells, lends, or has in his possession any such altered, forged, or counterfeited stamp, coupon, ticket, book, or other device, or makes, uses, sells, or has in his possession any material in imitation of the material used in the manufacture of such stamp, coupon, ticket, book, or other device, shall be fined not more than $5,000 or imprisoned not more than five years, or both.

SEC. 1426. DEFINITIONS.

When used in this subchapter

(a) WAGES.-The term "wages" means all remuneration for employment, including the cash value of all remuneration paid in any medium other than cash; except that such term shall not include

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(1) That part of the remuneration which, after remuneration equal to $3,000 * * with respect to employment after 1936 has been paid to an individual by an employer during any calendar year after 1946, is paid to such individual by such employer during such calendar year;

(2) The amount of any payment made to, or on behalf of, an employee under a plan or system established by an employer which makes provision for his employees generally or for a class or classes of his employees (including any amount paid by an employer for insurance or annuities, or into a fund, to provide for any such payment), on account of (A) retirement, or (B) sickness or accident disability, or (C) medical and hospitalization expenses in connection with sickness or accident disability, or (D) death, provided the employee (i) has not the option to receive, instead of provision for such death benefit, any part of such payment or, if such death benefit is insured, any part of the premiums (or contributions to premiums) paid by his employer, and (ii) has not the right, under the provisions of the plan or

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