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TREAS/IRS RIN: 1545-BH25 Publication ID: Fall 2016 
Title: Penalty for Erroneous Claim for Refund or Credit 

Section 8247 of the U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Act, which became law on May 25, 2007, enacted section 6676 of the Internal Revenue Code. Section 6676 imposes a penalty of 20 percent of the excessive amount of an erroneous claim for refund or credit. These proposed regulations establish the Service's regulatory guidance regarding the penalty.

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: Undetermined 
CFR Citation: 26 CFR 1   
Legal Authority: 26 U.S.C. 6676    26 U.S.C. 7805   
Legal Deadline:  None
Action Date FR Cite
NPRM  12/00/2016 
Additional Information: REG-138718-07 Drafting attorney: Sarah McLemore (202) 317-5197 Reviewing attorney: Ashton Trice (202) 317-5144 CC: PA: Branch 2
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Related RINs: Related to 1545-BH26 
Agency Contact:
Sarah McLemore
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-5197