Page:United States Statutes at Large Volume 68A.djvu/832

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INTERNAL REVENUE CODE OF 1954

the amount determined to be the correct amount of the tax, the overpayment shall be credited or refunded as provided in section 6402. SEC. 6404. ABATEMENTS. (a) GENERAL RULE. — The Secretary or his delegate is authorized to abate the unpaid portion of the assessment of any tax or any liability in respect thereof, which— (1) is excessive in amount, or (2) is assessed after the expiration of the period of limitation properly applicable thereto, or (3) is erroneously or illegally assessed. (b) N o CLAIM FOR ABATEMENT OF INCOME, ESTATE, AND G I F T

TAXES.—No claim for abatement shall be filed by a taxpayer in respect of an assessment of any tax imposed under subtitle A or B. (c) SMALL T A X BALANCES.—The Secretary or his delegate is au-

thorized to abate the unpaid portion of the assessment of any tax, or any liability in respect thereof, if the Secretary or his delegate determines under uniform rules prescribed by the Secretary or his delegate that the administration and collection costs involved would not warrant collection of the amount due. SEC. 6405. REPORTS OF REFUNDS AND CREDITS. (a) BY TREASURY TO JOINT COMMITTEE.—No refund or credit of

any income, war profits, excess profits, estate, or gift tax in excess of $100,000 shall be made until after the expiration of 30 days from the date upon which a report giving the name of the person to whom the refund or credit is to be made, the amount of such refund or credit, and a summary of the facts and the decision of the Secretary or his delegate, is submitted to the Joint Committee on Internal Revenue Taxation. (b) BY JOINT COMMITTEE TO CONGRESS.—A report to Congress shall be made annually by such committee of such refunds and credits, including the names of all persons and corporations to whom amounts are credited or payments are made, together with the amounts credited or paid to each. (c) TENTATIVE ADJUSTMENTS.—Any credit or refund allowed or made under section 6411 shall be made without regard to the provisions of subsection (a) of this section. I n any such case, if the credit or refund, reduced by any deficiency in such tax thereafter assessed and by deficiencies in any other tax resulting from adjustments reflected in the determination of the credit or refund, is in excess of $100,000, there shall be submitted to such committee a report containing the matter specified in subsection (a) a t such time after the making of the credit or refund as the Secretary or his delegate shall determine the correct amount of the tax. SEC. 6406. PROHIBITION OF ADMINISTRATIVE REVIEW OF DECISIONS.

In the absence of fraud or mistake in mathematical calculation, the findings of fact in and the decision of the Secretary or his delegate upon the merits of any claim presented under or authorized by the internal revenue laws and the allowance or nonallowance by the Secretary or his delegate of interest on any credit or refund under the internal revenue laws shall not, except as provided in subchapters C

6403

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