§ 6602. Interest on erroneous refund recoverable by suit

Statutory text

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.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1954
Aug. 16, 1954, ch. 736, 68A Stat. 818 · 68A Stat. 818
Enacted · 26 U.S.C. § 6602
Aug. 16, 1954, ch. 736, 68A Stat. 818
Source evidence
Code source credit
Aug. 16, 1954, ch. 736, 68A Stat. 818
1975
Pub. L. 93–625 § 7(a)(2)(B) · 88 Stat. 2108
Substituted · 26 U.S.C. § 6602
Pub. L. 93–625 substituted “an annual rate established under section 6621” for “the rate of 6 percent per annum”
Source evidence
Code amendment note
Pub. L. 93–625 substituted “an annual rate established under section 6621” for “the rate of 6 percent per annum”.
Enacted provision · exact public law section
(B) section 6602 (relating to interest on erroneous refunds 26 USC 6611. recoverable by suit),
1986
Tax Reform Act of 1986
Pub. L. 99–514 title XV § 1511(c)(12) · 100 Stat. 2085
Substituted · 26 U.S.C. § 6602
Pub. L. 99–514 substituted “the underpayment rate established under section 6621” for “an annual rate established under section 6621”
Source evidence
Code amendment note
Pub. L. 99–514 substituted “the underpayment rate established under section 6621” for “an annual rate established under section 6621”.
Enacted provision · exact public law section
(12) Section 6602 is amended by striking out “an annual rate established under section 6621” and inserting in lieu thereof “the underpayment rate established under section 6621”.
Effective date note
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.

2 of 3 references resolved to an enrolled provision · 1 partial

Editorial Notes

Amendments1975–1986 · 2 rounds

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”.

Statutory Notes and Related Subsidiaries

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.

Credits

1954–1986 · 3 acts

1954Aug. 16, 1954, ch. 736, 68A Stat. 818
1975Pub. L. 93–625, § 7(a)(2)(B), Jan. 3, 1975, 88 Stat. 2115
1986Pub. L. 99–514, title XV, § 1511(c)(12), Oct. 22, 1986, 100 Stat. 2745.

Show as published

(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.)