[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: 26CFR301.6511(c)-1]

[Page 379]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 301_PROCEDURE AND ADMINISTRATION--Table of Contents
 
                               Limitations
 
Sec. 301.6511(c)-1  Special rules applicable in case of extension of 
time by agreement.

    (a) Scope. If, within the period prescribed in section 6511(a) for 
the filing of a claim for credit or refund, an agreement extending the 
period for assessment of a tax has been made in accordance with the 
provisions of section 6501(c)(4), the special rules provided in this 
section become applicable. This section shall not apply to any claim 
filed, or credit or refund allowed if no claim is filed, either (1) 
prior to the execution of an agreement extending the period in which 
assessment may be made, or (2) more than 6 months after the expiration 
of the period within which an assessment may be made pursuant to the 
agreement or any extension thereof.
    (b) Period in which claim may be filed. Claim for credit or refund 
of an overpayment may be filed, or credit or refund may be allowed if no 
claim is filed, at any time within which an assessment may be made 
pursuant to an agreement, or any extension thereof, under section 
6501(c)(4), and for 6 months thereafter.
    (c) Limit on amount to be credited or refunded. (1) If a claim is 
filed within the time prescribed in paragraph (b) of this section, the 
amount of the credit or refund allowed or made shall not exceed the 
portion of the tax paid after the execution of the agreement and before 
the filing of the claim, plus the amount that could have been properly 
credited or refunded under the provisions of section 6511(b)(2) if a 
claim had been filed on the date of the execution of the agreement.
    (2) If no claim is filed, the amount of credit or refund allowed or 
made within the time prescribed in paragraph (b) of this section shall 
not exceed the portion of the tax paid after the execution of the 
agreement and before the making of the credit or refund, plus the amount 
that could have been properly credited or refunded under the provisions 
of section 6511(b)(2) if a claim had been filed on the date of the 
execution of the agreement.
    (d) Effective date of agreement. The agreement referred to in this 
section shall become effective when signed by the taxpayer and the 
district director or an assistant regional commissioner.