[Code of Federal Regulations]
[Title 26, Volume 13]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR]

[Page 448-449]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
Procedure and Administration--Table of Contents
 
Sec.  1.6425-1  Adjustment of overpayment of estimated income tax by 
corporation.

    (a) In general. Any corporation which has made an overpayment of 
estimated income tax for a taxable year beginning after December 31, 
1967, may file an application for an adjustment of such overpayment. The 
right to file an application for an adjustment of overpayment of 
estimated income tax is limited to corporations.
    (b) Contents of application. (1) The application for an adjustment 
of overpayment of estimated income tax shall be filed on Form 4466. The 
application shall be filled out in accordance with the instructions 
accompanying the form, and all information required by the form and 
instructions must be furnished by the corporation. The application shall 
be verified in the manner

[[Page 449]]

prescribed by section 6065 as in the case of a return of the 
corporation.
    (2) An application for an adjustment of overpayment of estimated 
income tax does not constitute a claim for credit or refund. If such 
application is disallowed by the district director, or director of a 
service center, in whole or in part, no suit may be maintained in any 
court for the recovery of any tax based on such application. The filing 
of an application for an adjustment of overpayment of estimated income 
tax will not constitute the filing of a claim for credit or refund 
within the meaning of section 6511 for the purpose of determining 
whether a claim for refund was filed prior to the expiration of the 
applicable period of limitation. The corporation, however, may file a 
claim for credit or refund under section 6402 at any time prior to the 
expiration of the applicable period of limitation and may maintain a 
suit based on such claim if it is disallowed or if the district 
director, or director of a service center, does not act on the claim 
within 6 months from the date it is filed. Such claim may be filed 
before, simultaneously with, or after the filing of the application for 
the adjustment of overpayment of estimated tax. A claim for credit or 
refund under section 6402 filed after the filing of an application for 
an adjustment of overpayment of estimated income tax is not to be 
considered an amendment of such application. Such claim, however, in 
proper cases, may constitute an amendment to a prior claim filed under 
section 6402.
    (c) Time and place for filing application. (1) The application for 
an adjustment of overpayment of estimated income tax shall be filed 
after the last day of the taxable year and on or before the 15th day of 
the third month thereafter, or before the date on which the corporation 
first files its income tax return for such taxable year (whether or not 
it subsequently amends the return), whichever is earlier.
    (2) Except as provided in paragraph (b)(2) of Sec.  301.6091-1 of 
this chapter (relating to hand-carried documents), the application on 
Form 4466 shall be filed with the internal revenue officer designated in 
instructions applicable to such form.

[T.D. 7059, 35 FR 14546, Sept. 17, 1970]