SEC. 6325-Continued (a) (1) (revised 1958) —Continued (c) - (d)__ Effective Date: August 17, 1954. (Id., § 1(c)(2), 72 Stat. 1606. See n. 703, p. 972 above.) Sept. 2, 1958, H.R. 8381, P.L. 85-866, § 77(2), 72 Stat. 1662: Amended Sec. 6325 by redesignating subsections (c) and (d) as subsections (d) and (e), respectively, and by inserting after subsection (b) (partial discharge of property) the following new subsection (c): "(c) ESTATE OR GIFT TAX.-Subject to such rules or regulations as the Secretary or his delegate may prescribe, the Secretary or his delegate may issue a certificate of discharge of any or all of the property subject to any lien imposed by section 6324 if the Secretary or his delegate finds that the liability secured by such lien has been fully satisfied or provided for." Effective Date: August 17, 1954. (Id., § 1(c)(2), 72 Stat. 1606. See n. 703, p. 972 above.) Sept. 2, 1958, H.R. 8381, P.L. 85-866, § 77(3), 72 Stat. 1662: Amended subsection (d) of Sec. 6325 (former subsection (c) redesignated by P.L. 85-866, § 77(2) as indicated above) 758 by striking out the word "partial" where it appeared in the heading and in the text. Effective Date: August 17, 1954. (Id., § 1(c)(2), 72 Stat. 1606. See n. 703, p. 972 above.) CH. 64, SUBCHAPTER D-SEIZURE OF PROPERTY FOR COLLECTION OF TAXES (68A Stat. 783-790): NOTE: The table of sections for Subchapter D of Chapter 64 reads as follows (68A Stat. 783): "Sec. 6336. Sale of perishable goods. "Sec. 6337. Redemption of property. "Sec. 6338. Certificate of sale; deed of real property. "Sec. 6339. Legal effect of certificate of sale of personal property and deed of real property. "Sec. 6340. Records of sale. "Sec. 6341. Expense of levy and sale. "Sec. 6342. Application of proceeds of levy. "Sec. 6343. Authority to release levy. This table has not been amended. 758 Subsection (c) of section 6325 originally read as follows (68A Stat. 782): "(c) EFFECT OF CERTIFICATE OF RELEASE OR PARTIAL DISCHARGE.-A certificate of release or of partial discharge issued under this section shall be held conclusive that the lien upon the property covered by the certificate is extinguished.” The original subsection (d) (redesignated as subsection (e) by P.L. 85-866, § 77(2)) read as follows (68A Stat. 782): "(d) CROSS REFERENCES. "(1) For single bond complying with the requirements of both subsection (a)(2) and section 6165, see section 7102. '(2) For other provisions relating to bonds, see generally chapter 73. "(3) For provisions relating to suits to enforce lien, see section 7403. (4) For provisions relating to suits to clear title to realty, see section 7424." SEC. 6334. PROPERTY EXEMPT FROM LEVY (68A Stat. 784-785): Aug. 28, 1958, H.R. 13549, P.L. 85-840, § 406, 72 Stat. 1047: Amended Sec. 6334 (a) 759 by adding at the end the following new paragraph (4): (a) (4) (a) (5). (added) "(4) UNEMPLOYMENT BENEFITS.-Any amount payable to an individual with respect to his unemployment (including any portion thereof payable with respect to dependents) under an unemployment compensation law of the United States, of any State or Territory, or of the District of Columbia or of the Commonwealth of Puerto Rico." Effective Date: August 28, 1958-the date of enactment. June 21, 1965, H.R. 8371, P.L. 89-44, § 812(a), 79 Stat. 170: Amended Sec. 6334(a) by adding at the end thereof, after paragraph (4) (as added by P.L. 85-840, § 406), the following new paragraph (5): "(5) UNDELIVERED MAIL.-Mail, addressed to any person, which has not been delivered to the addressee." Effective Date: June 21, 1965-the date of enactment. (Id., § 812(b), 79 Stat. 170.) SEC. 6338. CERTIFICATE OF SALE; DEED OF REAL PROPERTY (68A Stat. 787-788): (c). (in part) Sept. 2, 1958, H.R. 8381, P.L. 85-866, § 78, 72 Stat. 1662: Amended Sec. 6338 (c) 760 by striking out in the phrase "United States district attorney" the word "district". Effective Date: August 17, 1954. (Id., § 1(c)(2), 72 Stat. 1606. See n. 703, p. 972 above.) SEC. 6339. LEGAL EFFECT OF CERTIFICATE OF SALE OF PERSONAL PROPERTY AND DEED OF REAL PROPERTY (68A Stat. 788): (b) (2) - Sept. 2, 1958, H.R. 8381, P.L. 85-866, § 79, 72 Stat. 1662: Amended the heading of Sec. 6339 (b) (2) 761 by striking out the first place it appeared 759 Subsection (a) of section 6334 originally read as follows (68A Stat. 784): "(a) ENUMERATION.-There shall be exempt from levy "(1) WEARING APPAREL AND SCHOOL BOOKS.-Such items of wearing apparel and such school books as are necessary for the taxpayer or for members of his family; "(2) FUEL, PROVISIONS, FURNITURE, AND PERSONAL EFFECTS.-If the taxpayer is the head of a family, so much of the fuel, provisions, furniture, and personal effects in his household, and of the arms for personal use, livestock, and poultry of the taxpayer, as does not exceed $500 in value; "(3) BOOKS AND TOOLS OF A TRADE, BUSINESS, OR PROFESSION.-So many of the books and tools necessary for the trade, business, or profession of the taxpayer as do not exceed in the aggregate $250 in value." 760 Subsection (c) of section 6338 originally read as follows (68A Stat. 788): "(c) REAL PROPERTY PURCHASED BY UNITED STATES.-If real property is declared purchased by the United States at a sale pursuant to section 6335, the Secretary or his delegate shall at the proper time execute a deed therefor after its preparation and the endorsement of approval as to its form by the United States district attorney for the district in which the property is situated, and the Secretary or his delegate shall, without delay, cause the deed to be duly recorded in the proper registry of deeds." 761 Paragraph (2) of section 6339(b) originally read as follows (68A Stat. 788): "(2) DEED OF CONVEYANCE OF TITLE. If the proceedings of the Secretary or his delegate as set forth have been substantially in accordance with the provisions of law, such deed shall be considered and operate as a conveyance of all the right, title, and interest the party delinquent had in and to the real property thus sold at the time the lien of the United States attached thereto." SEC. 6339-Continued (b)(2) (corrected 1958)-Continued "OF" and inserting in lieu thereof "AS". Effective Date: August 17, 1964. (Id., § 1(c)(2), 72 Stat. 1606. See n. 703, p. 972 above.) CHAPTER 65—ABATEMENTS, CREDITS, AND REFUNDS (68A Stat. 791, ff.): NOTE: The table of subchapters for Chapter 65 reads as follows (68A Stat. 791): "SUBCHAPTER A. Procedure in general. "SUBCHAPTER B. Rules of special application." This table has not been amended. CH. 65, SUBCHAPTER A-PROCEDURE IN GENERAL (68A Stat. 791-793): NOTE: The table of sections for Subchapter A of Chapter 65 reads as follows (68A Stat. 791): "Sec. 6401. Amounts treated as overpayments. "Sec. 6402. Authority to make credits or refunds. "Sec. 6403. Overpayment of installment. "Sec. 6404. Abatements. "Sec. 6405. Reports of refunds and credits. "Sec. 6406. Prohibition of administrative review of decisions. "Sec. 6407. Date of allowance of refund or credit." This table has not been emended. SEC. 6401. AMOUNTS TREATED AS OVERPAYMENTS (68A Stat. 791): (b). June 21, 1965, H.R. 8371, P.L. 89-44, § 809 (d) (6), 79 Stat. 168: Amended Sec. 6401 762 by striking out subsection (b) and inserting in lieu thereof the following: "(b) EXCESSIVE CREDITS UNDER SECTIONS 31 AND 39.-If the amount allowable as credits under sections 31 (relating to tax withheld on wages) and 39 (relating to certain uses of gasoline and lubricating oil) exceeds the tax imposed by subtitle A (reduced by the credits allowable under subpart A of part IV of subchapter A of chapter 1, other than the credits allowable under sections 31 and 39), the amount of such excess shall be considered an overpayment." Applicability: Taxable years beginning on or after July 1, 1965. 762 Section 6401 originally read as follows (68A Stat. 791): "SEC. 6401. AMOUNTS TREATED AS OVERPAYMENTS. "(a) ASSESSMENT AND COLLECTION AFTER LIMITATION PERIOD.-The term 'overpayment' includes that part of the amount of the payment of any internal revenue tax which is assessed or collected after the expiration of the period of limitation properly applicable thereto. "(b) EXCESSIVE WITHHOLDING.-If the amount allowable as a credit under section 31 (relating to credit for tax withheld at the source under chapter 24) exceeds the taxes imposed by chapter I against which such credit is allowable, the amount of such excess shall be considered an overpayment. (c) RULE WHERE NO TAX LIABILITY.-An amount paid as tax shall not be considered not to constitute an overpayment solely by reason of the fact that there was no tax liability in respect of which such amount was paid." SEC. 6402. AUTHORITY TO MAKE CREDITS AND REFUNDS (68A ANCILLARY PROVISIONS: Feb. 15, 1956, H.R. 7094, P.L. 84-408, 70 Stat. 15-16: In amending section 120 of the Internal Revenue Code of 1939, Public Law 84-408 provided certain limitations with respect to credits and refunds which involved provisions of the Internal Revenue Code of 1954. The Act was as follows: "AN ACT "To amend section 120 of the Internal Revenue Code of 1939 (relating to unlimited deduction for charitable contributions). "Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 120 of the Internal Revenue Code of 1939 (relating to unlimited deduction for charitable and other contributions) is hereby amended by striking out "in each of the ten preceding taxable years" and inserting in lieu thereof "in eight of the ten preceding taxable years". "SEC. 2. (a) Except as provided in subsections (b), (c), and (d), the amendment made by the first section of this Act shall apply to all taxable years to which the Internal Revenue Code of 1939 applies. "(b) Notwithstanding any other provision of law, credit for any overpayment resulting from the amendment made by the first section of this Act shall not be allowed, and the refund of any such overpayment shall be made only if it is established to the satisfaction of the Secretary of the Treasury or his delegate "(1) in the case of a taxpayer who has not died at the time the refund is made, that the amount of such refund is to be paid forthwith as a charitable contribution (as defined in section 170 (c) of the Internal Revenue Code of 1954), or "(2) in the case of a taxpayer who has died at the time the refund is made, that (A) an amount equal to the amount of the refund, under the terms of the decedent's will, will be transferred to any person or organization described in section 2055 of the Internal Revenue Code of 1954, and (B) an amount equal to the amount of such transfer is deductible from the value of the gross estate under such section or the corresponding provisions of the Internal Revenue Code of 1939. No interest shall be paid upon any overpayment resulting from the amendment made by the first section of this Act. "(c) The amount of any refund made under this Act, and the payment or transfer of such amount as described in paragraph (1) or (2) of subsection (b), shall not be taken into account in determining any liability of the taxpayer or his estate for income tax or estate tax under the Federal income tax and estate tax laws. "(d) If a claim for refund relates to an overpayment on account of the amendment made by the first section of this Act, in lieu of the three-year period of limitation prescribed in section 322(b)(1) of the Internal Revenue Code of 1939, the period shall be seven years from the date prescribed by law for filing the return for the year with respect to which the claim is made. In the case of a claim described in this subsection, the amount of the refund may exceed the portion of the tax paid within the period prescribed in paragraph (2) or (3), whichever is applicable of section 322(b) of such code, to the extent of the amount of the overpayment attributable to the amendment made by the first section of this Act." 763 Section 6402, which has not been amended, reads as follows: "SEC. 6402. AUTHORITY TO MAKE CREDITS OR REFUNDS. "(a) GENERAL RULE.-In the case of any overpayment, the Secretary or his delegate, within the applicable period of limitations, may credit the amount of such overpayment, including any interest allowed thereon, against any liability in respect of an internal revenue tax on the part of the person who made the overpayment and shall refund any balance to such person. "(b) CREDITS AGAINST ESTIMATED TAX.-The Secretary or his delegate is authorized to prescribe regulations providing for the crediting against the estimated income tax for any taxable year of the amount determined by the taxpayer or the Secretary (or his delegate) to be an overpayment of the income tax for a preceding taxable year." CH. 65, SUBCHAPTER B-RULES OF SPECIAL APPLICATION (68A Stat. 794-802): Table... Do.... (item added) Do.... Do... Apr. 2, 1956, H.R. 8780, P.L. 84-466, § 4(c), 70 Stat. 91: "Sec. 6420. Cross references." and inserting in lieu thereof the following: "Sec. 6420. Gasoline used on farms. Effective Date: January 1, 1956. See subsection (g) of the new section 6420, p. 1080 below. June 29, 1956, H.R. 10660, P.L. 84-627, § 208(e) (4), 70 Stat. 397: Amended the table of sections for Subchapter B of Chapter 65 (as amended by P.L. 84-466, § 4(c)) by striking out "Sec. 6421. Cross references." and inserting in lieu thereof "Sec. 6421. Gasoline used for certain nonhighway purposes or by local transit systems. "Sec. 6422. Cross references." Effective Date: June 29, 1956-the date of enactment. (Id., § 211, 70 Stat. 402.) Feb. 11, 1958, H.R. 8216, P.L. 85–323, § 2, 72 Stat. 10: Amended the table of sections for Subchapter B of Chapter 65 (as amended by P.L. 84-627, § 208(e)(4)) by adding at the end thereof the following: "Sec. 6423. Conditions to allowance in the case of alcohol and tobacco taxes." Applicability: Not applicable to any credit or refund allowed or made before May 1, 1958. See amendment adding section 6423, p. 1089 below. (Id., § 3, 72 Stat. 10.) June 21, 1965, H.R. 8371, P.L. 89-44, § 202(b), 79 Stat. 137: Amended Subchapter B of Chapter 65 by adding a new section 6424 (p. 1091 below), but contained no provision adding a corresponding new item to the table of sections for such Subchapter B. Apparently the amendatory statute should have contained a provision adding to such table new item as follows: "Sec. 6424. Lubricating oil not used in highway motor vehicles." 764 The table of sections for Subchapter B of Chapter 65 originally read as follows (68A Stat. 794): "Sec. 6411. Tentative carry back adjustments. "Sec. 6412. Floor stocks refunds. "Sec. 6413. Special rules applicable to certain employment taxes. "Sec. 6414. Income tax withheld. "Sec. 6415. Credits or refunds to persons who collected certain taxes. "Sec. 6416. Certain taxes on sales and services. "Sec. 6417. Coconut and palm oil. "Sec. 6418. Sugar. "Sec. 6419. Excise tax on wagering. "Sec. 6420. Cross references." |