[Code of Federal Regulations]
[Title 26, Volume 18]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR301.6501(g)-1]

[Page 368]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 301_PROCEDURE AND ADMINISTRATION--Table of Contents
 
                               Limitations
 
Sec. 301.6501(g)-1  Certain income tax returns of corporations.

    (a) Trusts or partnerships. If a taxpayer determines in good faith 
that it is a trust or partnership and files a return as such under 
subtitle A of the Code, and if the taxpayer is later held to be a 
corporation for the taxable year for which the return was filed, such 
return shall be deemed to be the return of the corporation for the 
purpose of section 6501.
    (b) Exempt organizations. If a taxpayer determines in good faith 
that it is an exempt organization and files a return as such under 
section 6033, and if the taxpayer is later held to be a taxable 
organization for the taxable year for which the return was filed, such 
return shall be deemed to be the return of the organization for the 
purpose of section 6501.
    (c) DISC. If a corporation determines in good faith that it is a 
DISC (as defined in section 992(a)(1)) for a taxable year and files a 
return as such pursuant to section 6011(c)(2), and if the corporation is 
thereafter held to be a corporation which is not a DISC for the taxable 
year for which the return was filed, then--
    (1) Such return shall be deemed to be the return of the corporation 
for the purpose of section 6501.
    (2) Such return if filed within the time required by section 6072(b) 
for filing a DISC return shall be deemed to be filed within the time 
required by section 6072(b) for filing of a return by a corporation 
which is not a DISC, and
    (3) Interest on underpayment and overpayments allowed by chapter 67 
of the Code and additions to the tax, additional amounts and assessable 
penalties allowed by chapter 68 of the Code, when determined by 
reference to the time for filing of a return, shall be determined by 
reference to the time required by section 6072(b) for filing of a return 
by a DISC.

[32 FR 15241, Nov. 3, 1967, as amended by T.D. 7533, 43 FR 6604, Feb. 
15, 1978]