Rev. Rul. 57-500

Advice has been requested whether the statute of limitations upon assessments provided by section 3312 of the Internal Revenue Code of 1939 is applicable in cases where the documentary stamp tax was not paid on certificates of stock, issued by a corporation, at the time of issuance or transfer. For example, a corporation issued common stock on January 10, 1953, and the documentary stamps, representing the tax, were not affixed to the stock records at that time.

Section 3312 of the 1939 Code provides that all internal revenue taxes (except income, war-profits, excess profits, estate, gift, and certain employment taxes) shall be assessed within four years after the taxes became due. This section further porvides that in case of a failure to file a return within the time required by law, or in case of a willful attempt in any manner to defeat or evade the tax, the tax may be assessed at any time.

Since no return is required to be filed in the case of documentary stamp tax, it is held that the tax must be assessed within four years after it became due unless there is a willful attempt to evade or defeat the tax. Accordingly, in the instant case, in the absence of a willful attempt in any manner to defeat or evade the tax, the documentary stamp tax may not be assessed after January 10, 1957. Similarly, under the provisions of section 6501 of the Internal Revenue Code of 1954, any documentary stamp taxes imposed by the 1954 Code must be assessed within three years after such tax became due.