
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC6602]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                Subtitle F--Procedure and Administration
 
                          CHAPTER 67--INTEREST
 
                 Subchapter A--Interest on Underpayments
 
Sec. 6602. Interest on erroneous refund recoverable by suit

    Any portion of an internal revenue tax (or any interest, assessable 
penalty, additional amount, or addition to tax) which has been 
erroneously refunded, and which is recoverable by suit pursuant to 
section 7405, shall bear interest at the underpayment rate established 
under section 6621 from the date of the payment of the refund.

(Aug. 16, 1954, ch. 736, 68A Stat. 818; Pub. L. 93-625, Sec. 7(a)(2)(B), 
Jan. 3, 1975, 88 Stat. 2115; Pub. L. 99-514, title XV, Sec. 1511(c)(12), 
Oct. 22, 1986, 100 Stat. 2745.)


                               Amendments

    1986--Pub. L. 99-514 substituted ``the underpayment rate established 
under section 6621'' for ``an annual rate established under section 
6621''.
    1975--Pub. L. 93-625 substituted ``an annual rate established under 
section 6621'' for ``the rate of 6 percent per annum''.


                    Effective Date of 1986 Amendment

    Amendment by Pub. L. 99-514 applicable for purposes of determining 
interest for periods after Dec. 31, 1986, see section 1511(d) of Pub. L. 
99-514, set out as a note under section 47 of this title.


                    Effective Date of 1975 Amendment

    Amendment by Pub. L. 93-625 effective July 1, 1975, and applicable 
to amounts outstanding on such date or arising thereafter, see section 
7(e) of Pub. L. 93-625, set out as an Effective Date note under section 
6621 of this title.

                  Section Referred to in Other Sections

    This section is referred to in sections 6404, 7405 of this title.
