[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: 26CFR302.1-6]

[Page 752]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 302_TAXES UNDER THE INTERNATIONAL CLAIMS SETTLEMENT ACT, AS AMENDED 
AUGUST 9, 1955--Table of Contents
 
Sec. 302.1-6  Interest and penalties.

    (a) Liability for interest and civil penalties. Under subsection (d) 
of section 212 of the Act there is no liability for interest or penalty 
on account of any act or failure of the Attorney General. Such 
subsection is not applicable to interest or penalties payable in respect 
of any act or failure during the period prior to the vesting of the 
property by the Attorney General, or after the return of the property, 
or during the period during which the property was vested by the 
Attorney General on account of an act or ommission of any person other 
than the Attorney General.
    (b) Adjustment. In case of any assessment or collection, or credit 
or refund, of interest or a civil penalty contrary to section 212 (c) or 
(d) of the Act, proper adjustment shall be made.