[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: 26CFR303.1-6]

[Page 758]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 303_TAXES UNDER THE TRADING WITH THE ENEMY ACT--Table of Contents
 
Sec. 303.1-6  Interest and penalties.

    (a) Liability for interest and civil penalties. Under subsection (d) 
of section 36 of the Trading With the Enemy 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 omission 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 the provisions of 
section 36 (c) or (d), proper adjustment shall be made.