[Code of Federal Regulations]
[Title 26, Volume 8]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.826-6]

[Page 730-731]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
Determination of Tax Liability--Table of Contents
 
Sec. 1.826-6  Credit or refund.

    (a) Notification required. In any case where a taxpayer applies for 
a credit or refund of taxes paid by it in respect of a taxable year for 
which the taxpayer was the consenting attorney-in-fact of a reciprocal 
making the election provided by section 826(a), such taxpayer shall give 
notice to its reciprocal for such taxable year, first, upon applying for 
the credit or refund; and again, within 10 days from the date on which a 
final determination is made that such credit or refund has been allowed 
or denied.
    (b) Notice form. The notices required by this section shall include 
the name and address of the taxpayer and shall be signed by the taxpayer 
or its duly authorized representative. In addition, there shall be 
attached to and made a part of each first notice a concise statement of 
the claim upon which the application for refund or credit is based; and 
there shall be attached to and made a part of each second notice:
    (1) A copy of the notification (if any) received by the taxpayer 
indicating that the credit or refund has been allowed; and
    (2) A statement setting forth the amount of such credit or refund 
attributable to taxes paid by the taxpayer on income received from the 
reciprocal, and the computation by which such amount was determined.
    (c) Manner of apportioning refund or credit. The taxpayer shall 
determine the amount of the refund or credit attributable to taxes paid 
on income received from its reciprocal by reallocating its income and 
expense items for the taxable year, with respect to which the refund or 
credit is allowed, in the

[[Page 731]]

manner provided by Sec. Sec. 1.826-3 and 1.826-4 so as to reflect the 
adjustments (if any) in such items which resulted in the credit or 
refund of tax for the taxable year. The taxpayer shall then recompute 
the tax attributable to income received from its reciprocal for such 
taxable year in the manner provided by Sec. 1.826-5. The district 
director may require such additional information as may be necessary in 
the circumstances to verify the computations required by this paragraph.

[T.D. 6681, 28 FR 11126, Oct. 17, 1963]