SEC. 6512. LIMITATIONS IN CASE OF PETITION TO TAX COURT (68A Stat. 811): (b)(2) (C) ....... Oct. 23, 1962, H.R. 12599, P.L. 87-870, § 4, 76 Stat. 1161: Amended Sec. 6512(b) (2) 810_ (added) (1) by striking out "or" at the end of subparagraph (A); (2) by striking out the period at the end of subparagraph (B) and inserting in lieu thereof ", or"; and (3) by adding after subparagraph (B) the following new subparagraph (C): "(C) within the period which would be applicable under section 6511(b)(2), (c), or (d), in respect of any claim for refund filed within the applicable period specified in section 6511 and before the date of the mailing of the notice of deficiency "(i) which had not been disallowed before that date, "(ii) which had been disallowed before that date and in respect of which a timely suit for refund could have been commenced as of that date, or "(iii) in respect of which a suit for refund had been commenced before that date and within the period specified in section 6532." Effective Date: October 23, 1962-the date of enactment. CH. 66, SUBCHAPTER C-MITIGATION OF EFFECT OF PERIOD OF LIMITATIONS (68A Stat. 814): NOTE: The table of sections for Subchapter C of Chapter 66 reads as follows (68A Stat. 814): "Sec. 6521. Mitigation of effect of limitation in case of related taxes under different chapters." No amendment has been made to this table or to section 6521. CH. 66, SUBCHAPTER D-PERIODS OF LIMITATION IN JUDICIAL PROCEEDINGS (68A Stat. 815-816): NOTE: The table of sections for Subchapter D of Chapter 66 reads as follows (68A Stat. 815): "Sec. 6531. Periods of limitation on criminal prosecutions. "Sec. 6532. Periods of limitation on suits. "Sec. 6533. Cross references." This table has not been amended. 810 Subsection (b) of section 6512 originally read as follows (68A Stat. 811-812): "(b) OVERPAYMENT DETERMINED BY TAX COURT. "(1) JURISDICTION TO DETERMINE.-If the Tax Court finds that there is no deficiency and further finds that the taxpayer has made an overpayment of income tax for the same taxable year, of gift tax for the same calendar year, or of estate tax in respect of the taxable estate of the same decedent, in respect of which the Secretary or his delegate determined the deficiency, or find that there is a deficiency but that the taxpayer has made an overpayment of such tax, the Tax Court shall have jurisdiction to determine the amount of such overpayment, and such amount shall, when the decision of the Tax Court has become final, be credited or refunded to the taxpayer. (2) LIMIT ON AMOUNT OF CREDIT OR REFUND.-No such credit or refund shall be allowed or made of any portion of the tax unless the Tax Court determines as part of its decision that such portion was paid "(A) after the mailing of the notice of deficiency, or "(B) within the period which would be applicable under section 6511 (b)(2), (c), or (d), if on the date of the mailing of the notice of deficiency a claim had been filed (whether or not filed) stating the grounds upon which the Tax Court finds that there is an overpayment." SEC. 6532. PERIODS OF LIMITATION ON SUITS (68A Stat. 816): (a)(1), (4) Sept. 2, 1958, H.R. 8381, P.L. 85-866, § 89(b), 72 Stat. 1665-1666: (in part) Amended Sec. 6532(a) by striking out in paragraph (1) and in paragraph (4)— "registered mail" and inserting in lieu thereof "certified mail or registered mail". Applicability: Only if the mailing occurred after the date of enactment (September 2, 1958). (Id., § 89(d), 72 Stat. 1666.) CHAPTER 67-INTEREST (68A Stat. 817, ff.): NOTE: The table of subchapters for Chapter 67 reads as follows (68A Stat. 817): "SUBCHAPTER A. Interest on underpayments. "SUBCHAPTER B. Interest on overpayments." This table has not been amended. CH. 67, SUBCHAPTER A-INTEREST ON UNDERPAYMENTS (68A Stat. 817-818): NOTE: The table of sections for Subchapter A of Chapter 67 reads as follows (68A Stat. 817): "Sec. 6601. Interest on underpayment, nonpayment, or extensions of time for payment, of tax. "Sec. 6602. Interest on erroneous refund recoverable by suit." This table has not been amended. SEC. 6601. INTEREST ON UNDERPAYMENT, NONPAYMENT, OR EXTENSIONS OF TIME FOR PAYMENT, OF TAX (68A Stat. 817–818): (b). Do.. Sept. 2, 1958, H.R. 8381, P.L. 85–866, § 66(c), 72 Stat. 1658: "if postponement of the payment of an amount of such tax is and inserting in lieu thereof "if the time for payment of an amount of such tax is postponed or extended as provided by section 6163,". Effective date: August 17, 1954. (Id., § 1(c)(2), 72 Stat. 1606.) Applicability: See n. 703, p. 972 above. Sept. 2, 1958, H.R. 8381, P.L. 85–866, § 206(e), 72 Stat. 1685: "section 6161(a)(2)” and inserting in lieu thereof "section 6161 (a) (2) or 6166,". Applicability: Estates of decedents with respect to which the date for filing the estate tax return (including extensions thereof) prescribed by section 811 Subsection (b) of section 6601 originally read as follows (68A Stat. 817): "(b) EXTENSIONS OF TIME FOR PAYMENT OF ESTATE TAX.-If the time for payment of an amount of tax imposed by chapter 11 is extended as provided in section 6161 (a) (2) or if postponement of the payment of an amount of such tax is permitted by section 6163 (a), interest shall be paid at the rate of 4 percent, in lieu of 6 percent as provided in subsection (a)." SEC. 6601-Continued (b) (amended 1958)-Continued (c) (2) (opening clause) 6075(a) of the Internal Revenue Code of 1954 is after the date of enactment (September 2, 1958). (Id., § 236(f), 72 Stat. 1685). See also "Applicability" under Secs. 6161 (a) (2), 6166, and 6503(d) above. For the full text of subsection (f) of section 206 of P.L. 85-866, see "Applicability" under the amendment adding new section 6166, p. 1021 above. June 29, 1961, H.R. 6713, P.L. 87-61, § 203(c) (2), 75 Stat. 126: Amended the opening clause of Sec. 6601(c)(2) 812 by striking out— "6152(a)" (c)(2)(A).........- June 29, 1961, H.R. 6713, P.L. 87–61, § 203(c) (2), 75 Stat. 126: (e)(in full) Oct. 16, 1962, H.R. 10650, P.L. 87-834, § 2(e) (3), 76 Stat. 972: "(e) INCOME TAX REDUCED BY CARRYBACK. "(1) NET OPERATING LOSS CARRYBACK.-If the amount of any tax imposed by subtitle A is reduced by reason of a carryback of a net operating loss, such reduction in tax shall not affect the computation of interest under this section for the period ending with 812 Subsection (c) of section 6601 originally read as follows (68A Stat. 817): "(c) LAST DATE PRESCRIBED FOR PAYMENT. For purposes of this section, the last date prescribed for payment of the tax shall be determined under chapter 62 with the application of the following rules: "(1) EXTENSIONS OF TIME DISREGARDED.-The last date prescribed for payment shall be determined without regard to any extension of time for payment. "(2) INSTALLMENT PAYMENTS.-In the case of an election under section 6152 (a) to pay the tax in installments "(A) The date prescribed for payment of each installment of the tax shown on the return shall be determined under section 6152(b), and "(B) The last date prescribed for payment of the first installment shall be deemed the last date prescribed for payment of any portion of the tax not shown on the return. "(3) JEOPARDY.-The last date prescribed for payment shall be determined without regard to any notice and demand for payment issued, by reason of jeopardy (as provided in chapter 70), prior to the last date otherwise prescribed for such payment. (4) LAST DATE FOR PAYMENT NOT OTHERWISE PRESCRIBED.— -In the case of taxes payable by stamp and in all other cases in which the last date for payment is not otherwise prescribed, the last date for payment shall be deemed to be the date the liability for tax arises (and in no event shall be later than the date notice and demand for the tax is made by the Secretary or his delegate)." *13 Subsection (e) of section 6601 originally read as follows (68A Stat. 818): "(e) INCOME TAX REDUCED BY CARRYBACK.-If the amount of any tax imposed by subtitle A is reduced by reason of a carryback of a net operating loss, such reduction in tax shall not affect the computation of interest under this section for the period ending with the last day of the taxable year in which the net operating loss arises." 60-448-67———71 SEC. 6601-Continued (e) (revised 1962)-Continued Do.... (heading, par. (3) added) (g)-(i) (redesignated, added) the last day of the taxable year in which the net operating loss arises. "(2) INVESTMENT CREDIT CARRYBACK.-If the credit allowed by section 38 for any taxable year is increased by reason of an investment credit carryback, such increase shall not affect the computation of interest under this section for the period ending with the last day of the taxable year in which the investment credit carry back arises." Sept. 2, 1964, H.R. 5739, P.L. 88-571, § 3(d), 78 Stat. 858: "(e) INCOME TAX REDUCED BY CARRY BACK OR ADJUSTMENT (2) by adding at the end thereof the following new paragraph (3): "(3) ADJUSTMENT FOR CERTAIN UNUSED DEDUCTIONS OF LIFE INSURANCE COMPANIES.-If the amount of any tax imposed by subtitle A is reduced by operation of section 815(d) (5) (relating to reduction of policyholders surplus account of life insurance companies for certain unused deductions), such reduction in tax shall not affect the computation of interest under this section for the period ending with the last day of the last taxable year to which the loss described in section 815(d) (5) (A) is carried under section 812(b)(2).” Applicability: Amounts added to policyholders surplus accounts (within the meaning of section 815(c) of the Internal Revenue Code of 1954) for taxable years beginning after December 31, 1958. (Id., § 3(f), 78 Stat. 859.) Sept. 2, 1958, H.R. 8381, P.L. 85-866, § 83(a) (1), 72 Stat. 1663: Amended Sec. 6601 by redesignating subsections (g) and (h) 814 as subsections (i) and (j), and by inserting after subsection (f) (applicable rules) the following new subsection (g): "(g) SATISFACTION BY CREDITS.-If any portion of a tax is satisfied by credit of an overpayment, then no interest shall be imposed under this section on the portion of the tax so satisfied for any period during which, if the credit had not been made, interest would have been allowable with respect to such overpayment." Applicability: Only in respect of overpayments credited after December 31, 1957. (Id., § 83(d), 72 Stat. 1664.) With respect to underpayments under the 1939 Code, see amendment to section 3794 of that Code, Id., § 83(a)(2), 72 Stat. 1663-1664. 814 Subsections (g) and (h) of section 6601 read as follows (68A Stat. 818): (g) EXCEPTION AS TO ESTIMATED TAX.-This section shall not apply to any failure to pay estimated tax required by section 6153 (or section 59 of the Internal Revenue Čode of 1939) or section 6154. "(h) NO INTEREST ON CERTAIN ADJUSTMENTS.— "For provisions prohibiting interest on certain adjustments in tax, see section 6205 (a).” SEC. 6601-Continued (h).. Sept. 2, 1958, H.R. 8381, P.L. 85-866, § 84(a), 72 Stat. 1664: "(h) LIMITATION ON ASSESSMENT AND COLLECTION.-Interest prescribed under this section on any tax may be assessed and collected at any time during the period within which the tax to which such interest relates may be collected." Effective Date: August 17, 1954. Id., § 1(c)(2), 72 Stat. 1606. Applicability: See n. 703, p. 972 above. ANCILLARY PROVISIONS: Aug. 1, 1956, H.R. 7225, P.L. 84-880, § 201(m) (2) (F), 70 Stat. 844: (F) No interest or penalty shall be assessed or collected for failure to file a return within the time prescribed by law, if such failure arises solely by reason of an election made by an individual under subparagraph (B), or for any underpayment of the tax imposed by section 1401 of such Code arising solely by reason of such election, for the period ending with the date such individual makes an election under subparagraph (B).815 Aug. 1, 1956, H.R. 7225, P.L. 84-880, § 201(m)(3), 70 Stat. 844: "(3) Any tax under chapter 2 of the Internal Revenue Code of 1954 [tax on selfemployment income] which is due, solely by reason of the enactment of subsection (f), or paragraph (2) of subsection (e), of this section, for any taxable year ending on or before the date of the enactment of this Act [August 1, 1956] shall be considered timely paid if payment is made in full on or before the last day of the sixth calendar month following the month in which this Act is enacted. [August 1956.] In no event shall interest be imposed on the amount of any tax due under such chapter solely by reason of the enactment of subsection (f), or paragraph (2) of subsection (e), of this section for any period before the day after the date of enactment of this Act." 816 Aug. 1, 1956, H.R. 7225, P.L. 84-880, § 201(m) (4), 70 Stat. 844: "(4) Any tax due under chapter 21 of the Internal Revenue Code of 1954 [Federal Insurance Contributions Act] which is due, solely by reason of the enactment of subsection (d) 517 and an effective date prescribed pursuant to paragraph (2)(B) or (2)(C) of section 104(i),818 for any calendar quarter beginning prior to the day on which the Secretary of Health, Education, and Welfare approves the plan which prescribes such effective date shall be considered timely paid if payment is made in full on or before the last day of the sixth calendar month following the month in which such plan is approved. In no event shall interest be imposed on the amount 15 P.L. 84-880, § 201 (m) (2) (B) permitted an election by certain individuals to have section 1402 (a) (8) (B) of the Internal Revenue Code of 1954, as revised by P.L. 84-880, § 201 (g) (see p. 513 above), apply to their taxable years ending after 1954 and prior to 1957. See n. 325, p. 513 above. 816 P.L. 84-880, § 201 (e) (2), amended Sec. 1402(a)(1) of the Internal Revenue Code of 1954 with respect to the exclusion of certain rentals from income subject to the self-employment tax. See p. 511 above. P.L. 84-880, § 201 (f), amended Sec. 1402 (c) (5) of such Code with respect to the exclusion of certain professional services from the definition of "trade or business" for purposes of the tax on self-employment income. See p. 522 above. 817 P.L. 84-880, § 201(d), amended section 3121(b) (6) (B) (ii) and (C) (vi) with respect to kinds of service not treated as "employment" for purposes of the Federal Insurance Contributions Act. See pp. 598 and 601 above. 818 P.L. 84-880, § 104(i) (2) (B) and (C), prescribed effective dates for certain amendments to the Social Security Act. (72 Stat. 827.) |