Internal Revenue Code:Sec. 6676. Erroneous claim for refund or credit

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Contents


Location in Internal Revenue Code


     TITLE 26 - INTERNAL REVENUE CODE
      Subtitle F - Procedure and Administration
       CHAPTER 68 - ADDITIONS TO THE TAX, ADDITIONAL AMOUNTS, AND
             ASSESSABLE PENALTIES
         Subchapter B - Assessable Penalties
          PART I - GENERAL PROVISIONS
        

Statute

    Sec. 6676. Erroneous claim for refund or credit

    (a) Civil Penalty.--If a claim for refund or credit with respect 
to income tax (other than a claim for a refund or credit relating to the 
earned income credit under section 32) is made for an excessive amount, 
unless it is shown that the claim for such excessive amount has a 
reasonable basis, the person making such claim shall be liable for a 
penalty in an amount equal to 20 percent of the excessive amount.
    (b) Excessive Amount.--For purposes of this section, the term 
`excessive amount' means in the case of any person the amount by which 
the amount of the claim for refund or credit for any taxable year 
exceeds the amount of such claim allowable under this title for such 
taxable year.
    (c) Coordination With Other Penalties.--This section shall not 
apply to any portion of the excessive amount of a claim for refund or 
credit which is subject to a penalty imposed under part II of subchapter 
A of chapter 68.
 

Sources

 

Miscellaneous


                         EFFECTIVE DATE

2007 - PL 110-28
    (c) <<NOTE: 26 USC 6676 note.>>  Effective Date.--The amendments 
made by this section shall apply to any claim filed or submitted after 
the date of the enactment of this Act.
 

References

 

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