[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(h)-1]

[Page 368-369]
 
                       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(h)-1  Net operating loss or capital loss carrybacks.

    In the case of a deficiency attributable to the application to the 
taxpayer of a net operating loss or capital loss carryback (including 
deficiencies which may be assessed pursuant to the provisions of section 
6213(b)(2)), such deficiency may be assessed at any time before the 
expiration of the period within which a deficiency for the taxable year 
of the net operating loss or net capital loss which results in such

[[Page 369]]

carryback may be assessed. In the case of a deficiency attributable to 
the application of a net operating loss carryback, such deficiency may 
be assessed within 18 months after the date on which the taxpayer files 
in accordance with section 172(b)(3) a copy of the certification (with 
respect to such taxable year) issued under section 317 of the Trade 
Expansion Act of 1962, if later than the date prescribed by the 
preceding sentence.

[T.D. 7301, 39 FR 974, Jan. 4, 1974]