Payment of Tax.
Section 126
SEC. 126. Payment of Tax. — (a) Time and place of payment of tax. — The donor's tax imposed by Section 121, shall be paid at the time the return is filed. The tax shall be paid by the donor to the Revenue District Officer, Collection Agent of the city or municipality of which the donor is a resident. (b) Extension of time. — When the Commissioner of Internal Revenue finds that the payment on the due date of the tax or of any part of the said amount, would impose undue hardship upon the donor, the Commissioner of Internal Revenue may extend the time for payment thereof not to exceed six months from the date prescribed for the payment of the tax. In such case the amount in respect of which the extension is granted shall be paid on or before the date of the expiration of the period of the extension. Where the tax is assessed by reason of negligence international disregard of rules and regulations, or fraud on the part of the taxpayer, no extension will be granted by the Commissioner. If an extension is granted, the Commissioner of Internal Revenue may require the donor to furnish a bond in such amount not exceeding double the amount of the tax and with such sureties as the Commissioner deems necessary, conditioned upon the payment of the said tax in accordance with the terms of the extension.