Page:United States Statutes at Large Volume 53 Part 1.djvu/472

 TABLE OF CONTENTS CHAPTER 37-ABATEMENTS, CREDITS, AND REFrtNDs Sec. 3770. Authority to make abatements, credits, and refunds. 3771. Interest on overpayments. 3772. Suits for refund. 3773. Interest on judgments. 3774. Refunds after periods of limitation. 3775. Credits after periods of limitation. 3776. Reports to Congress of refunds in excess of $500. 3777. Reports of refunds and credits in excess of $75,000. 3778. Cross references. CHAPTER 37-ABATEMENTS, CREDITS, AND REFUNDS SEC. 3770. AUTHORITY TO MAKE ABATEMENTS, CREDITS, AND RE- FUNDS. (a) To TAXPAYERS.- (1) ASSESSMENTS AND COLLECTIONS GENERALLY.-E XCept as other- wise provided by law in the case of income, estate, and gift taxes, the Commissioner, subject to regulations prescribed by the Secre- tary, is authorized to remit, refund, and pay back all taxes errone- ously or illegally assessed or collected, all penalties collected without authority, and all taxes that appear to be unjustly assessed or excessive in amount, or in any manner wrongfully collected. (2) ASSESSMENTS AND COLLECTIONS AFTER LIMITATION PERIOD.-Any tax (or any interest, penalty, additional amount, or addition to such tax) assessed or paid after the expiration of the period of limita- tion properly applicable thereto shall be considered an overpayment and shall be credited or refunded to the taxpayer if claim therefor is filed within the period of limitation for filing such claim. (3) DATE OF ALLOWANCE. - Where the Commissioner has signed a schedule of overassessments in respect of any internal revenue tax imposed by this title, the Revenue Act of 1932, or any prior revenue Act, the date on which he first signed such schedule (if after May 28, 1928) shall be considered as the date of allowance of refund or credit in respect of such tax. (4) CROSS REFERENCE. - For limitations on refunds and credits in case of- Income tax, see section 322. Estate tax, see sections 910, 911, and 912. Gift tax, see section 1027. Miscellaneous taxes, see section 3313. (b) To COLLECroRS AND OrrCEBRs. -The Commissioner, subject to regulations prescribed by the Secretary, is authorized to repay- (1) COLLECTIONS RECOVERED.-To any collector or deputy collector the full amount of such sums of money as may be recovered against him in any court, for any internal revenue taxes collected by him, with the cost and expense of suit; also (2) DAMAGES AND COSTS.- A 1 l damages and costs recovered against any collector, deputy collector, agent, or inspector, in any suit brought against him by reason of anything done in the due per- formance of his official duty. 464

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