Failure to file return Sample Clauses

Failure to file return. In case of any failure to make and file a return or list within the time pre­ scribed by law, or prescribed by the Com­ missioner or the collector in pursuance of law, the Commissioner shall add to the tax 25 per centum of its amount, except that when a return is filed after such time and it is shown that the failure to file it was due to a reasonable cause and not to willful neglect, no such addition shall be made to the tax: Provided, That in the case of a failure to make and file a return required by law, within the time prescribed by law or prescribed by the Commissioner in pursu­ ance of law, if the last date so prescribed for filing the return is after August 30, 1935, then there shall be added to the tax, in lieu of such 25 per centum: 5 per centum if the failure is for not more than 30 days, with an additional 5 per centum for each addi­ tional 30 days or fraction thereof during which failure continues, not to exceed 25 per centum in the aggregate.