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26 U.S.C. § 6622Interest compounded daily

submitted 44 years ago by Pub. L. 97-248 to r/title-26-INTERNAL-REVENUE-CODE · 87 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain
(a) General rule

In computing the amount of any interest required to be paid under this title or sections 1961(c)(1) or 2411 of title 28, United States Code, by the Secretary or by the taxpayer, or any other amount determined by reference to such amount of interest, such interest and such amount shall be compounded daily.

(b) Exception for penalty for failure to file estimated tax

Subsection (a) shall not apply for purposes of computing the amount of any addition to tax under section 6654 or 6655.

Source credit: (Added Pub. L. 97–248, title III, § 344(a), Sept. 3, 1982, 96 Stat. 635.)

history & why it existsrecord from the source credit
  • 1982Enacted · Pub. L. 97-248 · 96 Stat. 635

A history note hasn’t been published yet. The record shows enactment by Pub. L. 97-248 on 1982-09-03.

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