PART 156—EXCISE TAX ON GREENMAIL Authority: 26 U.S.C. 6001, 6011, 6061, 6071, 6091, 6161, and 7805. Section 156.6060-1 also issued under 26 U.S.C. 6060(a); Section 156.6081-1 also issued under 26 U.S.C. 6081(a); Section 156.6109-1 also issued under 26 U.S.C. 6109(a); Section 156.6109-2 also issued under 26 U.S.C. 6109(a); Section 156.6695-1 also issued under 26 U.S.C. 6695(b). Source: T.D. 8379, 56 FR 65685, Dec. 18, 1991, unless otherwise noted. Subpart A—Tax on Greenmail § 156.5881-1 Imposition of excise tax on greenmail. (a) In general. (b) Transactions occurring on or after March 31, 1988. (1) The transferring shareholder has held the stock (as determined under section 1223) for less than two years before entering into the agreement to transfer the stock, (2) The shareholder, any person acting in concert with the shareholder, or any person related to the shareholder or to a person acting in concert with the shareholder made or threatened to make a public tender offer for stock of the corporation at some time during the two-year period ending on the date of the acquisition of the stock by the corporation, and (3) The acquisition is pursuant to an offer that was not made on the same terms to all shareholders. (c) Transactions occurring before March 31, 1988. (d) Effective date. Subpart B—Procedure and Administration § 156.6001-1 Notice or regulations requiring records, statements, and special returns. (a) In general. (b) Notice by district director requiring returns, statements, or the keeping of records. (c) Retention of records. [T.D. 8379, 56 FR 65685, Dec. 18, 1991; 57 FR 5931, Feb. 18, 1992] § 156.6011-1 General requirement of return, statement, or list. Every person liable for tax under section 5881 of the Code shall file a return with respect to the tax on the form prescribed by the Internal Revenue Service (Form 8725). Each such person shall include therein the information required by the form and the instructions issued with respect thereto. § 156.6060-1 Reporting requirements for tax return preparers. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78461, Dec. 22, 2008] § 156.6061-1 Signing of returns and other documents. Any return, statement, or other document required to be made with respect to a tax imposed by chapter 54 (Greenmail) of the Code or the regulations thereunder shall be signed by the person required to file the return, statement, or other document, or by the persons required or duly authorized to sign in accordance with the regulations, forms, or instructions prescribed with respect to such return, statement, or document. An individual's signature on such a return, statement, or other document shall be prima facie evidence that the individual is authorized to sign the return, statement, or other document. § 156.6065-1 Verification of returns. If a return, statement, or other document made under the provisions of chapter 54 (Greenmail) or of subtitle F of the Code, or the regulations thereunder with respect to any tax imposed by chapter 54, or the form and instructions issued with respect to such return, statement, or other document, requires that it shall contain or be verified by a written declaration that it is made under the penalties of perjury, it must be so verified by the person or persons required to sign such return, statement, or other document. In addition, any other statement or document submitted under any provision of chapter 54 or of subtitle F of the Code, or the regulations thereunder with respect to any tax imposed by chapter 54 may be required to contain or be verified by written declaration that is made under the penalties of perjury. § 156.6071-1 Time for filing returns relating to greenmail. (a) In general. (b) Returns relating to greenmail received before the date these regulations become final. § 156.6081-1 Automatic extension of time for filing a return due under chapter 54. (a) In general. (b) Requirements. (1) Submit a complete application on Form 7004, “Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns,” or in any other manner prescribed by the Commissioner; (2) File the application on or before the date prescribed for filing the return with the Internal Revenue Service office designated in the application's instructions; and (3) Remit the amount of the properly estimated unpaid tax liability on or before the date prescribed for payment. (c) No extension of time for the payment of tax. (d) Termination of automatic extension. (e) Penalties. (f) Effective/applicable dates. [T.D. 9407, 73 FR 37370, July 1, 2008] § 156.6091-1 Place for filing chapter 54 (Greenmail) tax returns. Except as provided in § 156.6091-2 (relating to exceptional cases): (a) Individuals, estates, and trusts. (b) Corporations. (c) Partnerships. (d) Returns of taxpayers outside the United States. (e) Returns filed with service centers or by hand carrying. [T.D. 8379, 56 FR 65685, Dec. 18, 1991; 57 FR 5931, Feb. 18, 1992, as amended by T.D. 9156, 69 FR 55746, Sept. 16, 2004] § 156.6091-2 Exceptional cases. Notwithstanding the provisions of § 156.6091-1, the Commissioner may permit the filing of any tax return under chapter 54 (Greenmail) of the Code in any local Internal Revenue Service office. [T.D. 8379, 56 FR 65685, Dec. 18, 1991, as amended by T.D. 9156, 69 FR 55747, Sept. 16, 2004] § 156.6107-1 Tax return preparer must furnish copy of return and claim for refund to taxpayer and must retain a copy or record. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78461, Dec. 22, 2008] § 156.6109-1 Tax return preparers furnishing identifying numbers for returns or claims for refund. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78461, Dec. 22, 2008] § 156.6151-1 Time and place for paying of tax shown on returns. The tax under chapter 54 (Greenmail) of the Code shown on any return shall, without notice of assessment and demand, be paid to the internal revenue officer with whom the return is filed at the time and place for filing such return (determined without regard to any extension of time for filing the return). For provisions relating to the time and place for filing such return, see §§ 156.6071-1 and 156.6091-1. For provisions relating to the extension of time for paying the tax, see § 156.6161-1. § 156.6161-1 Extension of time for paying tax or deficiency. (a) In general Tax shown or required to be shown on return. (2) Deficiency. (3) Extension of time for filing distinguished. (b) Certain rules relating to extensions of time for paying income tax to apply. § 156.6165-1 Bonds where time to pay tax or deficiency has been extended. If an extension of time for payment is granted under section 6161 of the Code, the district director or the director of the service center may, if he deems it necessary, require a bond for the payment of the amount in respect to which the extension is granted in accordance with the terms of the extension. However, the bond shall not exceed double the amount with respect to which the extension is granted. For provisions relating to form of bonds, see the regulations under section 7101 of the Code contained in part 301 of title 26 (Regulations on Procedure and Administration). § 156.6694-1 Section 6694 penalties applicable to tax return preparer. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78461, Dec. 22, 2008] § 156.6694-2 Penalties for understatement due to an unreasonable position. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78461, Dec. 22, 2008] § 156.6694-3 Penalty for understatement due to willful, reckless, or intentional conduct. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78461, Dec. 22, 2008] § 156.6694-4 Extension of period of collection when tax return preparer pays 15 percent of a penalty for understatement of taxpayer's liability and certain other procedural matters. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78461, Dec. 22, 2008] § 156.6695-1 Other assessable penalties with respect to the preparation of tax returns or claims for refund for other persons. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78462, Dec. 22, 2008] § 156.6696-1 Claims for credit or refund by tax return preparers. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78462, Dec. 22, 2008] § 156.7701-1 Tax return preparer. (a) In general. (b) Effective/applicability date. [T.D. 9436, 73 FR 78462, Dec. 22, 2008]