EMPLOYMENT TAXES SEC. 1521. ADJUSTMENTS. If more or less than the correct amount of the tax imposed by section 1520 is paid with respect to any compensation payment, then, under regulations made by the Commissioner, with the approval of the Secretary, proper adjustments with respect to the tax shall be made, without interest, in connection with subsequent excise-tax pay- ments made by the same employer. SEC. 1522. OVERPAYMENTS AND UNDERPAYMENTS. If more or less than the correct amount of the tax imposed by section 1520 is paid or deducted with respect to any compensation payment and the overpayment or underpayment of the tax cannot be adjusted under section 1521 the amount of the overpayment shall be refunded, or the amount of the underpayment shall be collected in such manner and at such times (subject to the statute of limitations properly applicable thereto) as may be prescribed by regulations under this subchapter as made by the Commissioner, with the ap- proval of the Secretary. Part IV-General Provisions SEC. 1530. COLLECTION AND PAYMENT OF TAXES. (a) ADMINISTRATIN.- T he taxes imposed by this subchapter shall be collected by the Bureau of Internal Revenue and shall be paid into the Treasury of the United States as internal-revenue collections. (b) TIME AND MANNER OF PAYMENT. -The taxes imposed by this subchapter shall be collected and paid quarterly or at such other times and in such manner and under such conditions not inconsistent with this subchapter as may be prescribed by the Commissioner with the approval of the Secretary. (c) ADDITION TO TAX IN CASE OF DELINQUENCY.- If a tax imposed by this subchapter is not paid when due, there shall be added as part of the tax (except in the case of adjustments made in accordance with the provisions of this subchapter) interest at the rate of 6 per centum per annum from the date the tax became due until paid. (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 shiall be increased to 1 cent. SEC. 1531. 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 sub- chapter A upon such taxpayer, and the balance, if any, shall be refunded. SEC. 1532. DEFINITIONS. As used in this subchapter- (a) EMPLOYER. -T he term "employer" means any carrier (as de- fined in subsection (h) of this section), and any company which is directly or indirectly owned or controlled by one or more such car- riers or under common control therewith, and which operates any equipment or facility or performs any service (except trucking serv- ice, casual service, and the casual operation of equipment or facili- ties) in connection with the transportation of passengers or property by railroad, or the receipt, delivery, elevation, transfer in transit, refrigeration or icing, storage, or handling of property transported by railroad, and any receiver, trustee, or other individual or body, judicial or otherwise, when in the possession of the property or operating all or any part of the business of any such employer: Provided, however, That the term "employer" shall not include any street, interurban, or suburban electric railway, unless such railway 181
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