26 U.S.C. § 6602 — Interest on erroneous refund recoverable by suit
submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 53 words · no verdicts yet
An erroneously refunded tax or related amount that can be recovered by a lawsuit accrues interest. The interest uses the underpayment rate and starts on the date the refund was paid.
Any internal-revenue tax, interest, assessable penalty, additional amount, or addition to tax that was refunded by mistake and can be recovered by a lawsuit under section 7405 earns interest at the underpayment rate under section 6621. Interest begins on the date the refund was paid.
Any portion of an internal revenue tax (or any interest, assessable penalty, additional amount, or addition to tax) which has been erroneously refunded, and which is recoverable by suit pursuant to section 7405, shall bear interest at the underpayment rate established under section 6621 from the date of the payment of the refund.
Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 818; Pub. L. 93–625, § 7(a)(2)(B), Jan. 3, 1975, 88 Stat. 2115; Pub. L. 99–514, title XV, § 1511(c)(12), Oct. 22, 1986, 100 Stat. 2745.)
- 1954Enacted · Act of Aug. 16, 1954, ch. 736
- 1975Amended · Pub. L. 93-625 · 88 Stat. 2115
- 1986Amended · Pub. L. 99-514 · 100 Stat. 2745
A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.
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