Rev. Proc. 55-3

1. Pursuant to the authority contained in sections 6081(a) and 6161(a)(1) of the Internal Revenue Code of 1954, the time for filing Form 1120-ES, Corporation Declaration of Estimated Tax, and for paying the tax due thereon, for the year 1955, is hereby extended to March 15, 1956, in the case of life insurance companies taxable under the provisions of section 802 of the Code.

2. Interest is not imposed on any unpaid estimated income tax whether or not the time for payment of such tax is extended. However, the addition to the tax under section 6655 of the Code for failure to pay the estimated tax would apply to any unpaid amount of estimated tax deferred under this extension of time and determined to be an underpayment by reason of the provisions of such section.

3. Any inquiry relating to this Revenue Procedure should be addressed to the Assistant Commissioner (Operations) for the attention of O:C.