[Code of Federal Regulations]
[Title 26, Volume 17]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR157.6081-1T]

[Page 465]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 157_EXCISE TAX ON STRUCTURED SETTLEMENT FACTORING TRANSACTIONS--Table of Contents
 
                 Subpart B_Procedure and Administration
 
Sec. 157.6081-1T  Extension of time for filing the return.

    (a) Application for extension. An application for an extension of 
time for filing the return required by Sec. 157.6011-1T (relating to 
returns of tax with respect to structured settlement factoring 
transactions) must be completed in accordance with the forms and 
instructions provided by the Internal Revenue Service. It should be made 
before the expiration of the time within which the return otherwise must 
be filed, and failure to do so may indicate negligence and constitute 
sufficient cause for denial. It should, where possible, be made 
sufficiently early to permit consideration of the matter and reply 
before what otherwise would be the due date of the return. An extension 
of time for filing a return shall not extend the time for the payment of 
the tax or any part thereof unless specified to the contrary in the 
grant of the extension.
    (b) Filing of return. If an extension of time for filing the return 
is granted, a return must be filed before the period of extension 
expires.