26-U.S.C.-6622

§6622 – Interest Compounded Daily

Pathway

Title 26 > Subtitle F > Chapter 67 > Subchapter C > Section 6622

Details

• Reference: Section 6622
• Legend: §6622 – Interest Compounded Daily
• USCode Year: 2013

Provision Content

(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.

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

Effective Date

Pub. L. 97–248, title III, §344(c), Sept. 3, 1982, 96 Stat. 636, provided that: The amendments made by this section [enacting this section and amending section 6601 of this title] shall apply to interest accruing after December 31, 1982.

U.S. Encyclopedia of Law Coverage

26-U.S.C.-6504 in the Legal Encyclopedia: Tax Administration

In this entry about 26-U.S.C.-6504, find legal reference material, bibliographies and premiere content related to tax administration in the American Encyclopedia of Law, presenting a comprehensive view of the United States tax administration-specific issues, written by authorities in the field.

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