§ 6611. Interest on overpayments
(a)
Rate
Interest shall be allowed and paid upon any overpayment in respect of any internal revenue tax at the overpayment rate established under section
6621.
(b)
Period
Such interest shall be allowed and paid as follows:
(1)
Credits
In the case of a credit, from the date of the overpayment to the due date of the amount against which the credit is taken.
(2)
Refunds
In the case of a refund, from the date of the overpayment to a date (to be determined by the Secretary) preceding the date of the refund check by not more than 30 days, whether or not such refund check is accepted by the taxpayer after tender of such check to the taxpayer. The acceptance of such check shall be without prejudice to any right of the taxpayer to claim any additional overpayment and interest thereon.
(d)
Advance payment of tax, payment of estimated tax, and credit for income tax withholding
The provisions of section
6513 (except the provisions of subsection (c) thereof, applicable in determining the date of payment of tax for purposes of determining the period of limitation on credit or refund, shall be applicable in determining the date of payment for purposes of subsection (a).
(e)
Disallowance of interest on certain overpayments
(1)
Refunds within 45 days after return is filed
If any overpayment of tax imposed by this title is refunded within 45 days after the last day prescribed for filing the return of such tax (determined without regard to any extension of time for filing the return) or, in the case of a return filed after such last date, is refunded within 45 days after the date the return is filed, no interest shall be allowed under subsection (a) on such overpayment.
(2)
Refunds after claim for credit or refund
If—
(A)
the taxpayer files a claim for a credit or refund for any overpayment of tax imposed by this title, and
no interest shall be allowed on such overpayment from the date the claim is filed until the day the refund is made.
(f)
Refund of income tax caused by carryback or adjustment for certain unused deductions
(1)
Net operating loss or capital loss carryback
For purposes of subsection (a), if any overpayment of tax imposed by subtitle A results from a carryback of a net operating loss or net capital loss, such overpayment shall be deemed not to have been made prior to the filing date for the taxable year in which such net operating loss or net capital loss arises.
(2)
Foreign tax credit carrybacks
For purposes of subsection (a), if any overpayment of tax imposed by subtitle A results from a carryback of tax paid or accrued to foreign countries or possessions of the United States, such overpayment shall be deemed not to have been made before the filing date for the taxable year in which such taxes were in fact paid or accrued, or, with respect to any portion of such credit carryback from a taxable year attributable to a net operating loss carryback or a capital loss carryback from a subsequent taxable year, such overpayment shall be deemed not to have been made before the filing date for such subsequent taxable year.
(3)
Certain credit carrybacks
(A)
In general
For purposes of subsection (a), if any overpayment of tax imposed by subtitle A results from a credit carryback, such overpayment shall be deemed not to have been made before the filing date for the taxable year in which such credit carryback arises, or, with respect to any portion of a credit carryback from a taxable year attributable to a net operating loss carryback, capital loss carryback, or other credit carryback from a subsequent taxable year, such overpayment shall be deemed not to have been made before the filing date for such subsequent taxable year.
(4)
Special rules for paragraphs (1), (2), and (3)
(A)
Filing date
For purposes of this subsection, the term “filing date” means the last date prescribed for filing the return of tax imposed by subtitle A for the taxable year (determined without regard to extensions).
(B)
Coordination with subsection (e)
(i)
In general
For purposes of subsection (e)—
(ii)
Loss year
For purposes of this subparagraph, the term “loss year” means—
(I)
in the case of a carryback of a net operating loss or net capital loss, the taxable year in which such loss arises,
(II)
in the case of a carryback of taxes paid or accrued to foreign countries or possessions of the United States, the taxable year in which such taxes were in fact paid or accrued (or, with respect to any portion of such carryback from a taxable year attributable to a net operating loss carryback or a capital loss carryback from a subsequent taxable year, such subsequent taxable year), and
(III)
in the case of a credit carryback (as defined in paragraph (3)(B)), the taxable year in which such credit carryback arises (or, with respect to any portion of a credit carryback from a taxable year attributable to a net operating loss carryback, a capital loss carryback, or other credit carryback from a subsequent taxable year, such subsequent taxable year).
(g)
No interest until return in processible form
(1)
For purposes of subsections (b)(3) and (e), a return shall not be treated as filed until it is filed in processible form.
(h)
Prohibition of administrative review
For prohibition of administrative review, see section
6406.