[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 449]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
Procedure and Administration--Table of Contents
 
Sec.  1.6425-2  Computation of adjustment of overpayment of estimated tax.

    (a) Income tax liability defined. For purposes of Sec. Sec.  1.6425-
1 through 1.6425-3 and 1.6655-5, relating to excessive adjustment, the 
term ``income tax liability'' means the excess of:
    (1) The tax imposed by section 11 or 1201(a), or subchapter L of 
chapter 1 of the Code, whichever is applicable, over
    (2) The credits against tax provided by part IV of subchapter A of 
chapter 1 of the code.
    (b) Computation of adjustment. The amount of an adjustment under 
section 6425 is an amount equal to the excess of the estimated income 
tax paid by the corporation during the taxable year over the amount 
which, at the time of filing Form 4466, the corporation estimates as its 
income tax liability for the taxable year.

[T.D. 7059, 35 FR 14547, Sept. 17, 1970]