[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.


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                    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.
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