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sioner, T.C. Memo. 2000-300; Estate of Wilson v.
Commissioner, T.C. Memo. 1999-221.
We believe that respondent’s view of what constitutes
an overpayment for purposes of section 6512(b) is too
narrow and does not square with our opinion in Estate
of Baumgardner v. Commissioner, supra. Contrary to
respondent’s position, we believe that, under certain
circumstances, additional overpayment interest that is
allowable under section 6611(a) with respect to an interim
overpayment is similar to the underpayment interest
involved in Estate of Baumgardner and can constitute an
overpayment for purposes of section 6512(b).
Most of the overpayments underlying petitioner’s
claims for additional overpayment interest are interim
overpayments that respondent credited against a tax
liability of petitioner for a different year and/or a
different tax, pursuant to section 6402(a). Subsection (a)
provides as follows:
SEC. 6402. AUTHORITY TO MAKE CREDITS OR REFUNDS.
(a) General Rule.--In the case of any
overpayment, the Secretary, within the applicable
period of limitations, may credit the amount of
such overpayment, including any interest allowed
thereon, against any liability in respect of an
internal revenue tax on the part of the person
who made the overpayment and shall, subject to
subsections (c), (d), and (e), refund any balance
to such person. [Emphasis added.]
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