[Congressional Bills 103th Congress] [From the U.S. Government Publishing Office] [H.R. 4747 Introduced in House (IH)] 103d CONGRESS 2d Session H. R. 4747 To amend the Internal Revenue Code of 1986 to allow claims for credits and refunds in certain cases where the statute of limitations is open for the assessment of a deficiency. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 13, 1994 Mr. Moran introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to allow claims for credits and refunds in certain cases where the statute of limitations is open for the assessment of a deficiency. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. CLAIMS FOR CREDITS AND REFUNDS PERMITTED IN CERTAIN CASES WHERE STATUTE OF LIMITATIONS IS OPEN FOR ASSESSMENT OF DEFICIENCY. (a) In General.--Subsection (d) of section 6511 of the Internal Revenue Code of 1986 (relating to limitations on credit or refund) is amended by adding at the end the following new paragraph: ``(7) Special period of limitation where statute is open for assessment of deficiency.--If the claim for credit or refund relates to an overpayment of the tax imposed by subtitle A with respect to a taxable year for which an assessment of a deficiency may be made by reason of 6501(e), in lieu of the 3- year period referred to in subsection (a), the limitation shall be 6 years.'' (b) Effective Date.--The amendment made by subsection (a) shall apply to taxable years with respect to which the statute of limitations for the assessment of a deficiency has not expired before the date of the enactment of this Act. <all>