Chapter XV. to declare the Meaning of certain Parts of the Internal Revenue Act, approved June thirty, eighteen hundred and sixty-four, and for other purposes
696 words·~3 min read·
/statutes-at-large/vol-14/chapter-xv-18995·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
CHAP. XV.— An Act to declare the Meaning of certain Parts of the Internal Revenue Act, approved June thirty, eighteen hundred and sixty-four, and for other purposes.March 10, 1866.1864, ch. 173.Vol. xiii. p. 223.1864, ch. 173.Vol. xiii. p. 223. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,* That in section one hundredIn § 120, “Dividends in scrip,” to mean what.Vol. xiii. p. 283. and twenty of the act entitled “An act to provide internal revenue to support the Government, to pay interest on the public debt, and for other purposes,” approved June thirty, eighteen hundred and sixty-four, the words:
“all dividends in scrip, or money thereafter declared due, and5THIRTY-NINTH CONGRESS. Sess. I. Ch. 15, 16. 1866. whenever the same shall be payable, to stockholders, policy-holders or depositors,” are hereby declared to mean all dividends in scrip or money wherever payable, and all stockholders, policy-holders, depositors, or parties whatsoever, including non-residents, whether citizens or aliens. Sec. 2. *And be it further enacted,* That in section one hundred and twenty-two of said act the word “stockholders" is hereby declared toIn § 120, the words “stockholders,” and “all such interest, &c.,” to mean what.Vol. xiii. p. 283. mean all persons or parties whatsoever that are or may be stockholders, including non-residents, whether citizens or aliens; and the words “all such interest or coupons, dividends or profits, whenever the same shall be payable,” are hereby declared to apply to all such interest or coupons, dividends or profits wherever the same are or may be payable, and to whatsoever party or person the same are or may be payable, including non-residents, whether citizens or aliens.
Sec. 3. *And be it further enacted,* That it shall be the duty of all personsPersons making returns of income, &c., to declare whether the rates, &c., in such returns are given in legal tender currency.Penalty for refusal or neglect to do so. required to make returns or lists of income and articles or objects charged with any duty or tax, as provided by the act aforesaid, or any act amendatory thereof, to declare in such returns whether the several rates and amounts therein contained are stated according to their values in legal tender currency; and in case of neglect or refusal so to state, to the satisfaction of the assistant assessor receiving such returns or lists, such assistant assessor is hereby required to make returns or lists for such persons so neglecting or refusing, as in case of persons neglecting or refusing to make the lists or returns required by the acts aforesaid, and toRepealed.See *Post*, p. 147. assess the duty thereon, and to add thereto the amount of penalties imposed by law in case of such neglect or refusal.
Sec. 4. *And be it further enacted,* That whenever the rates andReturns stated in coined money to be reduced to equivalent in legal tender currency. amounts contained in the lists or returns as aforesaid shall be stated in coined money, it shall be the duty of each assessor receiving the same to reduce such rates and amounts to their equivalent in legal tender currency, according to the value of such coined money in said currency at the time when and place where said lists or returns are receivable, and which value the said assessor shall determine.
And the lists required byRepealed.See *Post*, p. 147. law to be furnished to collectors by assessors shall in all cases contain the several amounts of taxes or duties assessed, estimated, or valued in legal tender currency only. Sec. 5. *And be it further enacted,* That the provisions of this act shall,This act to apply to all returns, lists, assessments, &c. so far as necessary, apply to all returns, lists, assessments, and collections required by the acts aforesaid in addition to those above mentioned, by whomsoever made, returned, assessed, or collected, in any mode or for anyRepealed.See *Post*, p. 147. purpose whatever.
And the Commissioner of Internal Revenue, under the direction of the Secretary of the Treasury, is hereby authorized to make all necessary rules and regulations for carrying this act into effect.Rules and regulations. Approved, March 10, 1866.