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26 CFR Part 5 — Temporary Income Tax Regulations Under the Revenue Act of 1978

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PART 5—TEMPORARY INCOME TAX REGULATIONS UNDER THE REVENUE ACT OF 1978 Authority: 26 U.S.C. 7805. § 5.6411-1 Tentative refund under claim of right adjustment. (a) Effective date. (b) In general. (c) Method of applying for tentative refund In general. (2) Applications made before February 7, 1980. (d) Information required In general. (2) Computation under section 1341(a)(4). (i) The amount of income restored by the taxpayer to another during the taxable year and the amount of the corresponding deduction described in section 1341(a)(2); (ii) The tax for the taxable year computed with the deduction described in section 1341(a)(2); and (iii) The tax for each prior taxable year (determined before adjustment under section 1341) to which any net operating loss described in section 1341(b)(4)(A) may be carried and the decrease in tax for each of those years that results from the carryback of that loss. (3) Computation under section 1341(a)(5). (i) The tax for the taxable year without the deduction described in section 1341(a)(2); (ii) The tax for each prior taxable year (determined before adjustment under section 1341) for which a decrease in tax is computed under section 1341(a)(5)(B); (iii) The decrease in tax for each prior taxable year computed under section 1341(a)(5)(B), including any decrease resulting from a net operating loss or capital loss described in section 1341(b)(4)(B); and (iv) The amount treated as an overpayment of tax under section 1341(b)(1). (e) Time and place for filing. (f) Not a claim for credit or refund. [T.D. 7672, 45 FR 8295, Feb. 7, 1980; 45 FR 17138, Mar. 18, 1980]

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