Internal Revenue Code (Title 26 U.S.C.)
26 U.S.C. § 2016
Recovery of taxes claimed as credit
If any tax claimed as a credit under section 2014 is recovered from any foreign country, the executor, or any other person or persons recovering such amount, shall give notice of such recovery to the Secretary at such time and in such manner as may be required by regulations prescribed by him, and the Secretary shall (despite the provisions of section 6501) redetermine the amount of the tax under this chapter and the amount, if any, of the tax due on such redetermination, shall be paid by the executor or such person or persons, as the case may be, on notice and demand. No interest shall be assessed or collected on any amount of tax due on any redetermination by the Secretary resulting from a refund to the executor of tax claimed as a credit under section 2014, for any period before the receipt of such refund, except to the extent interest was paid by the foreign country on such refund.
Source: view the official text
Nearby sections (25 sections)
- 1561 · Limitation on accumulated earnings credit in the case of certain…
- 1562 · [§1562. Repealed. Pub. L. 91–172, title IV, §401(a)(2), Dec. 30,…
- 1563 · Definitions and special rules
- 1564 · [§1564. Repealed. Pub. L. 101–508, title XI, §11801(a)(38), Nov.…
- 2001 · Imposition and rate of tax
- 2002 · Liability for payment
- 2010 · Unified credit against estate tax
- 2011 · [§2011. Repealed. Pub. L. 113–295, div. A, title II,…
- 2012 · Credit for gift tax
- 2013 · Credit for tax on prior transfers
- 2014 · Credit for foreign death taxes
- 2015 · Credit for death taxes on remainders
- 2016 · Recovery of taxes claimed as credit
- 2031 · Definition of gross estate
- 2032 · Alternate valuation
- 2032A · Valuation of certain farm, etc., real property
- 2033 · Property in which the decedent had an interest
- 2033A · [§2033A. Renumbered §2057]
- 2034 · Dower or curtesy interests
- 2035 · Adjustments for certain gifts made within 3 years of decedent's…
- 2036 · Transfers with retained life estate
- 2037 · Transfers taking effect at death
- 2038 · Revocable transfers
- 2039 · Annuities
- 2040 · Joint interests