Treasury Regulations (26 C.F.R.)
26 CFR § 1.6164-6
Revised statements.
# (a) Requirements and effect.
A corporation may file more than one statement under section 6164 with respect to any one taxable year. Each statement is to be considered a new statement and not an amendment of any prior statement. Each such new statement is to be in lieu of the last statement previously filed with respect to the taxable year. The new statement may extend the time for payment of a greater or lesser amount of tax than was extended under the prior statement or may change the kind of tax the time for payment of which is to be extended. The extension may not relate to any amount of tax which was paid or required to be paid prior to the date of filing the new statement. Any amount of tax the time for payment of which was extended under a prior statement, however, may continue to be extended under the new statement. If the amount the time for payment of which is extended under the new statement is less than the amount so extended under the last statement previously filed, the extension of time shall be terminated on the date the new statement is filed as to the difference between the two amounts. See § 1.6164-8 for the dates on which such difference must be paid. If a corporation pays any amount of tax, the time for payment of which was extended, prior to the date the extension would otherwise terminate, the extension with respect to such amount shall be deemed terminated, without regard to whether a new statement is filed, on the date such amount is paid. The corporation shall indicate on each new statement filed that it has already filed one or more prior statements with respect to the taxable year. The corporation shall likewise indicate the date each prior statement was filed and the amount of each tax the time for payment of which was extended under each prior statement.
# (b) Example.
The provisions of this section may be illustrated by the following example:
Example.
Corporation Y, which keeps its books and makes its tax returns on the calendar year basis, filed its income tax return for 1956 on March 15, 1957, showing a tax of $100,000. At the same time it filed a statement under section 6164 in which it stated that it expected to have a net operating loss of $75,000 in 1957 and that the reduction in the tax previously determined for 1955 (the second taxable year preceding the year of the expected net operating loss) attributable to the expected net operating loss carryback resulting from such expected loss, would be $39,000. The corporation accordingly extended the time for payment of $39,000 of its income tax for 1956, and paid $30,500 (50 percent of the excess of $100,000 over $39,000) of such tax on March 15, 1957 (see section 6164(c) and § 1.6164-4). As a result of its operations during the next several months, the corporation filed a second statement on June 3, 1957, in which it stated that its expected net operating loss for 1957 would amount to $150,000 and that the corresponding reduction in the tax for 1955 would amount to $78,000. Corporation Y under the new statement may extend the time for payment of $30,500, the installment due on June 17, 1957, and the time for payment of the $39,000 extended under the first statement filed on March 15, 1957, may continue to be extended under the second statement. The $30,500 which was paid on March 15, 1957, will not be affected by the second statement filed on June 3, 1957.
Source: view the official text
In this part (40 sections)
- 1.6091-4 · Exceptional cases.
- 1.6102-1 · Computations on returns or other documents.
- 1.6107-1 · Tax return preparer must furnish copy of return or claim for…
- 1.6107-2 · Form and manner of furnishing copy of return and retaining…
- 1.6109-1 · Identifying numbers.
- 1.6109-2 · Tax return preparers furnishing identifying numbers for…
- 1.6115-1 · Disclosure requirements for quid pro quo contributions.
- 1.6109-2A · Furnishing identifying number of income tax return preparer.
- 1.6151-1 · Time and place for paying tax shown on returns.
- 1.6153-1 · Payment of estimated tax by individuals.
- 1.6153-2 · Fiscal years.
- 1.6153-3 · Short taxable years.
- 1.6153-4 · Extension of time for paying the estimated tax.
- 1.6161-1 · Extension of time for paying tax or deficiency.
- 1.6162-1 · Extension of time for payment of tax on gain attributable to…
- 1.6164-1 · Extensions of time for payment of taxes by corporations…
- 1.6164-2 · Amount of tax the time for payment of which may be extended.
- 1.6164-3 · Computation of the amount of reduction of the tax previously…
- 1.6164-4 · Payment of remainder of tax where extension relates to only…
- 1.6164-5 · Period of extension.
- 1.6164-6 · Revised statements.
- 1.6164-7 · Termination by district director.
- 1.6164-8 · Payments on termination.
- 1.6164-9 · Cross references.
- 1.6165-1 · Bonds where time to pay the tax or deficiency has been…
- 1.6302-1 · Deposit rules for corporation income and estimated income…
- 1.6302-2 · Deposit rules for tax withheld on nonresident aliens and…
- 1.6302-3 · Deposit rules for estimated taxes of certain trusts.
- 1.6302-4 · Voluntary payments by electronic funds transfer.
- 1.6361-1 · Collection and administration of qualified State individual…
- 1.6411-1 · Tentative carryback adjustments.
- 1.6411-2 · Computation of tentative carryback adjustment.
- 1.6411-3 · Allowance of adjustments.
- 1.6411-4 · Consolidated groups.
- 1.6414-1 · Credit or refund of tax withheld on nonresident aliens and…
- 1.6417-0 · Table of Contents.
- 1.6417-1 · Elective payment election of applicable credits.
- 1.6417-2 · Rules for making elective payment elections.
- 1.6417-3 · Special rules for electing taxpayers.
- 1.6417-4 · Elective payment election for electing taxpayers that are…