1704 Suspensi on of en- forcement on approval of security . Discretionary waiver of requirements as to citizens . Aliens to furnish tax- pa id certificat e before going abroad. Additions to tax for violations . Information at source . Returns by persons making fixed payments to others of $1,000 or more . Exceptions. P ost, p. 1705 . Ret urns rega rdle ss of amoun t of paym ent . Interest on corpora- tion bonds, etc . Collections of foreign coupo ns, etc . Name and address of recipient. Interest on Federal obligations . 74 TH CONGRESS . SESS. II. CH. 690. JUN E 22, 1936 . (C) SA ME-EXEM PTION FROM SECTION.-If security is approved and accepted pursuant to the provisions of this section and such further or other security with respect t o the tax or taxes covered thereby is given as the Commissioner shall from time to time find necessary and require, payment of such t axes shall not be enforced by any proceedings under the provisions of this section prior to the expiration of the time otherwise allowed for paying such respective taxes. (d) CITIZENS.-In the case of a citizen of the United States or of a possession of the United States about to depart from the United States the Commissioner may, at his discretion, waive any or all of the requirements placed on the taxpayer by this section. (e) DEPARTURE OF ALIEN .-NO alien shall depart from the United States unless he first procures from the collector or agent in charge a certificate that he has complied with all the obligations imposed upon him by the income, war-profits, and excess-profits tax laws . (f) ADDITION To TA x .-If a tax payer violat es or attemp ts to violate this section there shall , in addition to all othe r penalties, be added as part of the tax 25 per centum of the total amount of the tax or deficiency in the tax, together with interest at the rate of 6 per centum per annum from the time the tax became due . SEC. 147. INFORMATION AT SOURCE . (a) PAY MENTS OF $1,000 OR MORE .--All persons, in whatever capacity acting, including lessees or mortgagors of real or personal property, fiduciaries, and employers, making payment to another person, of interest, rent, salaries, wages, premiums, annuities, com- pe nsatio ns, re munera tions , emol uments , or other fixed or det ermin - able gains, profits, and income (other than payments described in section 148 (a) or 149), of $1,000 or more in any taxable year, or, in the case of such payments made by the United States, the officers or employees of the United States having information as to such payments and r equired to make returns in regard theret o by the regulations hereinafter provided for, shall render a true and accu- rate return to the Commissioner, under such regulations and in such form and manner and to su ch extent as may be prescribed by him with the approval of the Secretary, setting forth the amount of such gains, profits, and income, and the name and address of the r ecipie nt of such paymen t . (b) RETURNS REGARDLESS OF AMOUNT OF PAYMENT.-Such returns may be required, regardless of amounts, (1) in the case of payments of interest upon bonds, mortgages, deeds of trust, or other similar obligation s of corporations, and (2) in the case of collections of item s (not payable in the United S tates) of interest upon the bo nds of foreign countries and interest upon the bonds of and dividends from foreign corporations by persons undertaking as a matter of business or for profit the collection of foreign payments of such interest or dividends by means of coupons, checks, or bills of exchange . (C) RECIPIENT TO FURNISH NAM E AND ADDRESS .-When necessary to make effective the provisions of this section the name and address of the recipient of income shall be furnished upon demand of the person paying the income. (d) OBLIGATIONS OF UNITED ST AT ES .- The p rovisi ons of this sec- tion shall not apply to the payment of interest on obligations of the U nited States .
