26Title 26The US tax code, read & explained

26 U.S.C. § 6401

§ 6401. Amounts treated as overpayments

236 words · amended 20 times · cited by 2 other sections

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No plain-English explainer yet. Below is the official text. Explainers are being added section by section.

History

Part of the code since 1954. Last changed December 22, 2017 by the Tax Cuts and Jobs Act (2017).

Every change, newest first (21)
  1. December 22, 2017Tax Cuts and Jobs Act (2017)
  2. February 17, 2009Public Law 111-5
  3. June 18, 2008Public Law 110-246
  4. May 22, 2008Public Law 110-234
  5. August 8, 2005Public Law 109-58
  6. July 22, 1998IRS Restructuring and Reform Act of 1998
  7. November 10, 1988Technical and Miscellaneous Revenue Act of 1988
  8. October 22, 1986Tax Reform Act of 1986
  9. July 18, 1984Deficit Reduction Act of 1984
  10. August 5, 1983Public Law 98-67
  11. September 3, 1982Tax Equity and Fiscal Responsibility Act of 1982
  12. April 2, 1980Public Law 96-223
  13. April 1, 1980Public Law 96-222
  14. November 9, 1978Public Law 95-618
  15. November 6, 1978Revenue Act of 1978
  16. October 4, 1976Tax Reform Act of 1976
  17. March 29, 1975Public Law 94-12
  18. May 21, 1970Public Law 91-258
  19. December 30, 1969Tax Reform Act of 1969
  20. June 21, 1965Public Law 89-44
  21. August 16, 1954Internal Revenue Code of 1954 (original text)

The law as written

Current through Public Law 119-102. Amendment notes omitted.

Structure

  1. (a) Assessment and collection after limitation period.
  2. (b) Excessive credits
  3. (c) Rule where no tax liability
(a) Assessment and collection after limitation period.

The term “overpayment” includes that part of the amount of the payment of any internal revenue tax which is assessed or collected after the expiration of the period of limitation properly applicable thereto.

(b) Excessive credits
(1) In general

If the amount allowable as credits under subpart C of part IV of subchapter A of chapter 1 (relating to refundable credits) exceeds the tax imposed by subtitle A (reduced by the credits allowable under subparts A, B, D, and G of such part IV), the amount of such excess shall be considered an overpayment.

(2) Special rule for credit under section 33

For purposes of paragraph (1), any credit allowed under section 33 (relating to withholding of tax on nonresident aliens and on foreign corporations) for any taxable year shall be treated as a credit allowable under subpart C of part IV of subchapter A of chapter 1 only if an election under subsection (g) or (h) of section 6013 is in effect for such taxable year. The preceding sentence shall not apply to any credit so allowed by reason of section 1446.

(c) Rule where no tax liability

An amount paid as tax shall not be considered not to constitute an overpayment solely by reason of the fact that there was no tax liability in respect of which such amount was paid.