[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: 26CFR301.7507-6]

[Page 557]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 301_PROCEDURE AND ADMINISTRATION--Table of Contents
 
                          Judicial Proceedings
 
Sec. 301.7507-6  Abatement and refund.

    (a) An assessment or collection, no matter when made, if contrary to 
section 7507, is subject to abatement or refund within the applicable 
statutory period of limitations.

    (b) Collection from a bank within section 7507(b) which diminishes 
assets necessary for payment of depositors, if made prior to agreement 
with depositors, is not contrary to the section, and affords no ground 
for refund.

    (c) Any abatement or refund is subject to existing statutory periods 
of limitation, which periods are not suspended or extended by section 
7507. In order to secure a refund of any taxes paid for any taxable year 
during the period of immunity the bank must file claim therefor.