Contents
- (a) Rate2 changes
- (b) Period3 changes
- (d) Advance payment of tax, payment of estimated tax, and credit for income tax withholding
- (e) Disallowance of interest on certain overpayments3 changes
- (f) Refund of income tax caused by carryback or adjustment for certain unused deductions21 changes
- (g) No interest until return in processible form3 changes
- (h) Prohibition of administrative review
- [(c) Repealed. Pub. L. 85–866, title I, § 83(c), Sept. 2, 1958, 72 Stat. 1664]1 change
(e)
(1)If any overpayment of tax imposed by this title is refunded within 45 days after the last day prescribed for filing the return of such tax (determined without regard to any extension of time for filing the return) or, in the case of a return filed after such last date, is refunded within 45 days after the date the return is filed, no interest shall be allowed under subsection (a) on such overpayment.
(2)If—
(A)the taxpayer files a claim for a credit or refund for any overpayment of tax imposed by this title, and
(B)such overpayment is refunded within 45 days after such claim is filed,
no interest shall be allowed on such overpayment from the date the claim is filed until the day the refund is made.
(3)If an adjustment initiated by the Secretary, results in a refund or credit of an overpayment, interest on such overpayment shall be computed by subtracting 45 days from the number of days interest would otherwise be allowed with respect to such overpayment.
(4)In the case of any overpayment resulting from tax deducted and withheld under chapter 3 or 4, paragraphs (1), (2), and (3) shall be applied by substituting “180 days” for “45 days” each place it appears.
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