26-U.S.C.-6602

§6602 – Interest On Erroneous Refund Recoverable By Suit

Pathway

Title 26 > Subtitle F > Chapter 67 > Subchapter A > Section 6602

Details

• Reference: Section 6602
• Legend: §6602 – Interest On Erroneous Refund Recoverable By Suit
• USCode Year: 2013

Provision Content

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.

(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.)

Amendments

1986—Pub. L. 99–514 substituted the underpayment rate established under section 6621 for an annual rate established under section 6621.

1975—Pub. L. 93–625 substituted an annual rate established under section 6621 for the rate of 6 percent per annum.

Effective Date of 1986 Amendment

Amendment by Pub. L. 99–514 applicable for purposes of determining interest for periods after Dec. 31, 1986, see section 1511(d) of Pub. L. 99–514, set out as a note under section 47 of this title.

Effective Date of 1975 Amendment

Amendment by Pub. L. 93–625 effective July 1, 1975, and applicable to amounts outstanding on such date or arising thereafter, see section 7(e) of Pub. L. 93–625, set out as an Effective Date note under section 6621 of this title.

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.

7-U.S.C.-8740 in the Legal Encyclopedia: Payments

In this entry about 7-U.S.C.-8740, find legal reference material, bibliographies and premiere content related to payments in the American Encyclopedia of Law, presenting a comprehensive view of the United States payments-specific issues, written by authorities in the field.

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