26 USC 6603 - Deposits made to suspend running of interest on potential underpayments, etc.

U.S Code last checked for updates: Jan 18, 2025

§ 6603.

Deposits made to suspend running of interest on potential underpayments, etc.

(a)

Authority to make deposits other than as payment of tax

(b)

No interest imposed

(c)

Return of deposit

(d)

Payment of interest

(1)

In general

(2)

Disputable tax

(A)

In general

(B)

Safe harbor based on 30-day letter

(3)

Other definitions

For purposes of paragraph (2)—

(A)

Disputable item

The term “disputable item” means any item of income, gain, loss, deduction, or credit if the taxpayer—

(i)

has a reasonable basis for its treatment of such item, and

(ii)

reasonably believes that the Secretary also has a reasonable basis for disallowing the taxpayer’s treatment of such item.

(B)

30-day letter

(4)

Rate of interest

(e)

Use of deposits

(1)

Payment of tax

(2)

Returns of deposits

(Added Pub. L. 108–357, title VIII, § 842(a), Oct. 22, 2004, 118 Stat. 1598; amended Pub. L. 116–25, title I, § 1001(b)(1)(D), July 1, 2019, 133 Stat. 985.)

cite as: 26 USC 6603