§1341. Computation of tax where taxpayer restores substantial amount held under claim of right — Inbound Citations
26 U.S.C. § 1341
Cited by 8 provisions in release 119-102.
Citations to 26 U.S.C. § 1341 as a whole
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(9) the deduction under section 1341 (relating to computation of tax where taxpayer restores substantial amount held under claim of right),
Citations to §1341(a)(2)
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(i) the amount of the tax for such taxable year computed without regard to the deduction described in section 1341(a)(2),
Citations to §1341(a)(5)(B)
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(ii) the amount of the tax for all prior taxable years for which the decrease in tax provided in section 1341(a)(5)(B) was computed,
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(iii) the amount determined under section 1341(a)(5)(B),
Citations to §1341(b)(1)
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(3) If the Secretary determines that the amount applied, credited, or refunded under section 6411 is in excess of the overassessment attributable to the carryback or the amount described in section 1341(b)(1) with respect to which such amount was applied, credited, or refunded, he may assess without regard to the provisions of paragraph (2) the amount of the excess as a deficiency as if it were due to a mathematical or clerical error appearing on the return.
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(1) A taxpayer may file an application for a tentative refund of any amount treated as an overpayment of tax for the taxable year under section 1341(b)(1). Such application shall be in such manner and form as the Secretary may prescribe by regulation and shall—(A) be verified in the same manner as an application under subsection (a),(B) be filed during the period beginning on the date of filing the return for such taxable year and ending on the date 12 months from the last day of such taxable year, and(C) set forth in such detail and with such supporting data such regulations prescribe—(i) the amount of the tax for such taxable year computed without regard to the deduction described in section 1341(a)(2),(ii) the amount of the tax for all prior taxable years for which the decrease in tax provided in section 1341(a)(5)(B) was computed,(iii) the amount determined under section 1341(a)(5)(B),(iv) the amount of the overpayment determined under section 1341(b)(1); and(v) such other information as the Secretary may require.
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(iv) the amount of the overpayment determined under section 1341(b)(1); and
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(2) Within a period of 90 days from the date on which an application is filed under paragraph (1) or from the date of the overpayment (determined under section 1341(b)(1)), whichever is later, the Secretary shall—(A) review the application,(B) determine the amount of the overpayment, and(C) apply, credit, or refund such overpayment,in a manner similar to the manner provided in subsection (b).