§6602 — Interest on erroneous refund recoverable by suit
7 cases·1 followed·2 distinguished·4 cited—14% support
Statute Text — 26 U.S.C. §6602
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.
Treasury Regulations
- Treas. Reg. §Treas. Reg. §301.6602-1 Interest on erroneous refund recoverable by suit
7 Citing Cases
Section 6404(e)(2) provides: The Secretary shall abate the assessment ofall interest on any erroneous refund under section 6602 until the date demand for repayment is made, unles(cid:0)541-- (A) the taxpayer (or a related party) has in any way caused such erroneous refund, or (B) such erroneous refund exceeds $50,000. Respondent contends that section 6404(e)(2) does not apply because, according to respondent, the instant case does not involve a dispute over an erroneous refund under section 6602
ted party) has in any way caused such erroneous refund, or (B) such erroneous refund exceeds $50,000." Without passing upon the question of whether the refund in this case constitutes an erroneous refund that was caused by petitioners due to the error in reporting income on their income tax return, we hold that this Court has no jurisdiction in this case over an abatement of interest issue arising under section 6404(e).
Section 6404(e)(2) provides: The Secretary shall abate the assessment of all interest on any erroneous refund under section 6602 until the date demand for repayment is made, unless— (A) the taxpayer (or a related party) has in any way caused such erroneous refund, or (B) such erroneous refund exceeds $50,000.
(2) Interest abated with respect to erroneous refund check.--The Secretary shall abate the assessment ofall interest on any erroneous refund under section 6602 until the date demand for repayment is made, unless-- (A) the taxpayer(or a related party) has in any way caused such erroneous refund, or (B) such erroneous refund exceeds $50,000.
(2) Interest abated with respect to erroneous refund check.— The Secretary shall abate the assessment of all interest on any erroneous refund under section 6602 until the date demand for repayment is made, unless— (A) the taxpayer (or a related party) has in any way caused such erroneous refund, or (B) such erroneous refund exceeds $50,000.
- 6 - Section 6404(e)(2) provides: The Secretary shall abate the assessment of all interest on any erroneous refund under section 6602 until the date demand for repayment is made, unless–-(A) the taxpayer (or a related party) has in any way caused such erroneous refund, or (B) such erroneous refund exceeds $50,000.