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TREAS/IRS RIN: 1545-BG42 Publication ID: Fall 2016 
Title: Interest on Overpayments 

The amendments to Treasury Regulation 301.6611-1 Interest on Overpayments will explain the dates interest starts to accrue on refunds of overpayments claimed by certain tax-exempt persons who do not have an obligation to file tax returns. The amendments address tax-exempt persons, corporations exempt from filing income tax returns pursuant to the section 6012 regulations, and persons whose income is excludible from gross income. The amendments will clarify the Service's position on the decisions in Overseas Thread Industries, Ltd. v. United States, 48 Cl. Ct. 221 (2000), and MNOPF Trustees, Ltd. v. United States, 123 F. 3d 1460 (Fed. Cir. 1997), and State of Michigan v. United States, 141 F. 3d 662 (6th Cir. 1998).

Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 301   
Legal Authority: 26 U.S.C. 6611    26 U.S.C. 6513    26 U.S.C. 7805    Overseas Thread Industries, Ltd v United States, 48 cl ct 221 (2000)    MNOPF Trustees, Ltd v United States, 123 F 3d 1460 (Fed Cir 1997)    State of Michigan v United States, 141 F 3d 662 (6th Cir 1998)   
Legal Deadline:  None
Action Date FR Cite
NPRM  12/00/2016 
Additional Information: REG-143889-06 (NPRM) Drafting attorney: Gerald Semasek (202) 317-5437 Reviewing attorney: G. William Beard (202) 317-5437 Treasury attorney: CC: PA: Branch 5
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: Businesses, Organizations  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Gerald Semasek
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20024
Phone:202 317-5414
Fax:202 317-5410