Page:United States Statutes at Large Volume 70.djvu/134

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Refunds. Credits.

Interest.

Application for refund*

D. C. Code 471586g.

PUBLIC LAW 4eO-MAR. 31, 1966

[70 ST A T.

more burdensome requirements upon the United States than it imposes upon other employers, or which has the effect of subjecting the United States or any of its officers or employees to any penalty or liability by reason of the provisions of this subsection." SKC. 12. (a) Section 11 of title X II of said Act (D. C. Code, sec. 47-lo8(ij) is amended by inserting " (a) " after ''SEC. 11.". (b) The first sentence of such section 11 of title X II is amended to read as follows: "Except as to any deficiency taxes assessed under the provisions of section 5 of this title, where there has been an overpayment of any tax imposed by this article, the amount of such overpayment may be credited against any liability in respect of any income or franchise tax or installment thereof (whether such tax was assessed as a deficiency or otherwise), on the part of the person who made the overpayment, and the balance shall be refunded to such person." (c) The proviso in such section 11 of title X II is amended by striking out "4 per centum per annum" and inserting in lieu thereof "onethird of 1 per centum per month or portion of a month". (d) Such section 11 of title X II is further amended by inserting at the end thereof the following new subsections: "(b) REFUND TO EMPLOYER.— (1) Where there has been an overpayment of tax \mder section 8 of this title, refund or credit shall be made to the employer only to the extent that the amount of such overpayment was not deducted and withheld under section 8 of this title by the employer. "(2) ITnless written application for refund or credit is received by the Assessor from the employer within three years from the date the overpayment was made, no refund or credit shall be allowed. "(c) R E F I XD or OVERPAYMENT OF TAX W I T H H E L D. — (1) Where the amount of the tax withheld at the source under section 8 of this title exceeds the taxes imposed by this article against which the tax so withheld may be credited under this section, the amount of such excess shall be considered an overpayment: Provided, That, any other provision of law notwithstanding, interest on any overpayment of taxes collected under the withholding provisions of this article and under any declaration of estimated tax shall not begin to accrue until ninety days after the overpaj'ment is made or after the date of filing of a final return, whichever is later. " (2) PRESUMPTION AS TO DATE OF PAYMENT.—For the purposes of this section, any tax actually deducted and withheld at the source during any calendar year under this article shall, in respect of the recipient of the income, be deemed to have been paid on the fifteenth day of the fourth month following the close of the taxable year with respect to which such tax is allowable as a credit under this article. For the purpose of this section, any amount paid prior to the fifteenth day of the fourth month following the close of the taxable year as estimated tax for such taxable year shall be deemed to have been paid on the fifteenth day of the fourth month following the close of such taxable year. "(3) Authority to refund overpayments of taxes collected pursuant to section 8 of this title is vested in the Commissioners or their duly authorized representatives. Such refunds shall be made from moneys paid pursuant to the provisions of section 8 of this title and retained in a special account in the Treasury of the United States. The total amount so retained shall not exceed $500,000 at any one time. Any excess in such special account not required for refunding overpayments collected pursuant to section 8 of this title at any time, as determined by the Assessor, shall be transferred to the general fund of the District."

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