Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section6425&num=0&edition=prelim
Timestamp: 2019-11-17 12:41:23
Document Index: 783711044

Matched Legal Cases: ['§ 6425', '§6425', '§103', '§1906', '§516', '§701', '§10301', '§221', '§2006', '§12001', '§401', '§14401', '§13001', '§12001']

[USC02] 26 USC 6425: Adjustment of overpayment of estimated income tax by corporation
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26 USC 6425: Adjustment of overpayment of estimated income tax by corporation Text contains those laws in effect on November 16, 2019
§6425. Adjustment of overpayment of estimated income tax by corporation
A corporation may, after the close of the taxable year and on or before the 15th day of the fourth month thereafter, and before the day on which it files a return for such taxable year, file an application for an adjustment of an overpayment by it of estimated income tax for such taxable year. An application under this subsection shall not constitute a claim for credit or refund.
An application under this subsection shall be verified in the manner prescribed by section 6065 in the case of a return of the taxpayer, and shall be filed in the manner and form required by regulations prescribed by the Secretary. The application shall set forth-
For purposes of this section and section 6655(h) (relating to excessive adjustment)-
(1) The term "income tax liability" means the excess of-
(i) the tax imposed by section 11, or subchapter L of chapter 1, whichever is applicable, plus
(ii) the tax imposed by section 59A, over
(2) The amount of an adjustment under this section is equal to the excess of-
(Added Pub. L. 90–364, title I, §103(d)(1), June 28, 1968, 82 Stat. 262 ; amended Pub. L. 94–455, title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834 ; Pub. L. 99–499, title V, §516(b)(4)(C), Oct. 17, 1986, 100 Stat. 1771 ; Pub. L. 99–514, title VII, §701(d)(2), Oct. 22, 1986, 100 Stat. 2342 ; Pub. L. 100–203, title X, §10301(b)(4), Dec. 22, 1987, 101 Stat. 1330–429 ; Pub. L. 113–295, div. A, title II, §221(a)(12)(J), Dec. 19, 2014, 128 Stat. 4039 ; Pub. L. 114–41, title II, §2006(a)(2)(E), July 31, 2015, 129 Stat. 457 ; Pub. L. 115–97, title I, §§12001(b)(17), 13001(b)(2)(P), 14401(d)(3), Dec. 22, 2017, 131 Stat. 2094 , 2097, 2233; Pub. L. 115–141, div. U, title IV, §401(a)(293), Mar. 23, 2018, 132 Stat. 1198 .)
2018-Subsec. (c)(1)(A). Pub. L. 115–141, which directed amendment of subpar. (A) by substituting "the sum" for "The sum", could not be executed because "The sum" no longer appeared after the amendments made by Pub. L. 115–97. See 2017 Amendment notes below.
2017-Subsec. (c)(1)(A). Pub. L. 115–97, §14401(d)(3), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: "the tax imposed by section 11 or subchapter L of chapter 1, whichever is applicable, over".
Pub. L. 115–97, §13001(b)(2)(P), struck out "or 1201(a)," after "by section 11".
Pub. L. 115–97, §12001(b)(17), amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: "The sum of-
"(i) the tax imposed by section 11 or 1201(a), or subchapter L of chapter 1, whichever is applicable, plus
"(ii) the tax imposed by section 55, over".
2015-Subsec. (a)(1). Pub. L. 114–41 substituted "fourth month" for "third month".
2014-Subsec. (c)(1)(A). Pub. L. 113–295 inserted "plus" at end of cl. (i), substituted "over" for "plus" at end of cl. (ii), and struck out cl. (iii) which read as follows: "the tax imposed by section 59A, over".
1987-Subsec. (c). Pub. L. 100–203 substituted "section 6655(h)" for "section 6655(g)".
1986-Subsec. (c)(1)(A). Pub. L. 99–514 amended subpar. (A) generally, restating existing provisions as cl. (i) and adding cl. (ii).
Pub. L. 99–499 amended subsec. (c)(1)(A), as amended by the Tax Reform Act of 1986 (Pub. L. 99–514), by striking out "plus" at end of cl. (i), substituting "plus" for "over" at end of cl. (ii), and adding cl. (iii).
1976-Subsecs. (a), (b), (d). Pub. L. 94–455 struck out "or his delegate" after "Secretary" wherever appearing.
Amendment by section 12001(b)(17) of Pub. L. 115–97 applicable to taxable years beginning after Dec. 31, 2017, see section 12001(c) of Pub. L. 115–97, set out as a note under section 11 of this title.
Amendment by section 13001(b)(2)(P) of Pub. L. 115–97 applicable to taxable years beginning after Dec. 31, 2017, see section 13001(c)(1) of Pub. L. 115–97, set out as a note under section 11 of this title.
Amendment by section 14401(d)(3) of Pub. L. 115–97 applicable to base erosion payments (as defined in section 59A(d) of this title) paid or accrued in taxable years beginning after Dec. 31, 2017, see section 14401(e) of Pub. L. 115–97, set out as a note under section 26 of this title.
Section applicable with respect to taxable years beginning after Dec. 31, 1967, except as provided by section 104 of Pub. L. 90–364, set out as notes under sections 6154 and 51 of this title, see section 103(f) of Pub. L. 90–364, set out as an Effective Date of 1968 Amendment note under section 6154 of this title.
For applicability of amendment by Pub. L. 99–514 notwithstanding any treaty obligation of the United States in effect on Oct. 22, 1986, see section 1012(aa)(2) of Pub. L. 100–647, set out as a note under section 861 of this title.