[Code of Federal Regulations]
[Title 26, Volume 20]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR601.108]

[Page 37-38]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 601_STATEMENT OF PROCEDURAL RULES--Table of Contents
 
                   Subpart A_General Procedural Rules
 
Sec. 601.108  Review of overpayments exceeding $200,000.

    (a) General. Section 6405(a) of the Code provides that no refund or 
credit of income, war profits, excess profits, estate, or gift taxes or 
any tax imposed by Chapters 41 through 44, including penalties and 
interest, in excess of $200,000 may be made until after the expiration 
of 30 days from the date a report is made to the Joint Committee on 
Taxation. Taxpayers, in cases requiring review by the Joint Committee, 
are afforded the same appeal rights as other taxpayers. In general, 
these cases follow regular procedures, except for preparation of reports 
to and review by the Joint Committee.
    (b) Reports to Joint Committee. In any case in which no protest is 
made to Appeals and no petition docketed in the Tax Court, the report to 
the Joint

[[Page 38]]

Committee is prepared by a Joint Committee Coordinator, who is an 
Examination Division regional specialist. In cases in which a protest 
has been made, the report to the Joint Committee is prepared by an 
Appeals officer; in cases in which a petition is docketed, either an 
Appeals officer or a Counsel attorney prepares the report, depending on 
the circumstances.
    (c) Procedure after report to Joint Committee. After compliance with 
section 6405 of the Code, the case is processed for issuance of a 
certificate of overassessment, and payment or credit of any overpayment. 
If the final determination involves a rejection of a claimed overpayment 
in whole or in part, a statutory notice of disallowance will be sent by 
certified or registered mail to the taxpayer, except where the taxpayer 
has filed a written waiver of such notice of disallowance.

[32 FR 15990, Nov. 22, 1967, as amended at 42 FR 46519, Sept. 16, 1977; 
43 FR 44503, Sept. 28, 1978; 43 FR 53030, Nov. 15, 1978; 45 FR 7255, 
Feb. 1, 1980]