[USC02] 26 USC 6602: Interest on erroneous refund recoverable by suit
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26 USC 6602: Interest on erroneous refund recoverable by suit Text contains those laws in effect on October 25, 2020
From Title 26-INTERNAL REVENUE CODESubtitle F-Procedure and AdministrationCHAPTER 67-INTERESTSubchapter A-Interest on Underpayments

§6602. Interest on erroneous refund recoverable by suit

Any portion of an internal revenue tax (or any interest, assessable penalty, additional amount, or addition to tax) which has been erroneously refunded, and which is recoverable by suit pursuant to section 7405, shall bear interest at the underpayment rate established under section 6621 from the date of the payment of the refund.

(Aug. 16, 1954, ch. 736, 68A Stat. 818 ; Pub. L. 93–625, §7(a)(2)(B), Jan. 3, 1975, 88 Stat. 2115 ; Pub. L. 99–514, title XV, §1511(c)(12), Oct. 22, 1986, 100 Stat. 2745 .)

Amendments

1986-Pub. L. 99–514 substituted "the underpayment rate established under section 6621" for "an annual rate established under section 6621".

1975-Pub. L. 93–625 substituted "an annual rate established under section 6621" for "the rate of 6 percent per annum".

Effective Date of 1986 Amendment

Amendment by Pub. L. 99–514 applicable for purposes of determining interest for periods after Dec. 31, 1986, see section 1511(d) of Pub. L. 99–514, set out as a note under section 47 of this title.

Effective Date of 1975 Amendment

Amendment by Pub. L. 93–625 effective July 1, 1975, and applicable to amounts outstanding on such date or arising thereafter, see section 7(e) of Pub. L. 93–625, set out as an Effective Date note under section 6621 of this title.