Page:United States Statutes at Large Volume 68A.djvu/858

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INTERNAL REVENUE CODE OF 1954

(d) SUSPENSION OF INTEREST IN CERTAIN INCOME, ESTATE, AND G I F T T A X C A S E S. — I n the case of a deficiency as defined in section

6211 (relating to income, estate, and gift taxes), if a waiver of restrictions under section 6213(d) on the assessment of such deficiency has been filed, and if notice and demand by the Secretary or his delegate for payment of such deficiency is not made within 30 days after the filing of such waiver, interest shall not be imposed on such deficiency for the period beginning immediately after such 30th day and ending with the date of notice and demand. (e) INCOME T A X KEDUCED BY CARRYBACK.—If the amount of any tax imposed by subtitle A is reduced by reason of a carryback of a net operating loss, such reduction in tax shall not affect the computation of interest under this section for the period ending with the last day of the taxable year in which the net operating loss arises. (f) APPLICABLE RULES.—Except as otherwise provided in this title— (1) INTEREST TREATED AS TAX.—Interest prescribed under this section on any tax shall be paid upon notice and demand, and shall be assessed, collected, and paid in the same manner as taxes. Any reference in this title (except subchapter B of chapter 63, relating to deficiency procedures) to any tax imposed by this title shall be deemed also to refer to interest imposed by this section on such tax. (2) N o INTEREST ON INTEREST.—No interest under this section shall be imposed on the interest provided by this section. (3) INTEREST ON PENALTIES, ADDITIONAL AMOUNTS, OR ADDITIONS

TO THE TAX.—Interest shall be imposed under subsection (a) in respect of any assessable penalty, additional amount, or addition to the tax only if such assessable penalty, additional amount, or addition to the tax is not paid within 10 days from the date of notice and demand therefor, and in such case interest shall be imposed only for the period from the date of the notice and demand to the date of payment. (4) PAYMENTS MADE WITHIN 10 DAYS AFTER NOTICE AND DE-

MAND.—If notice and demand is made for payment of any amount, and if such amount is paid within 10 days after the date of such notice and demand, interest under this section on the amount so paid shall not be imposed for the period after the date of such notice and demand. (g) EXCEPTION AS TO ESTIMATED TAX.—This section shall not apply to any failure to pay estimated tax required by section 6153 (or section 59 of the Internal Revenue Code of 1939) or section 6154. (h)

N o INTEREST ON CERTAIN ADJUSTMENTS.—

For provisions prohibiting interest on certain adjustments in tax, see section 6205(a). SEC. 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 rate of 6 percent per annum from the date of the payment of the refund.

§ 6601(d)

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