# 26 U.S.C. § 6405: Reports of refunds and credits

Source: OLRC release point 119-134 <https://uscode.house.gov/us/usc/119-134/t26/s6405>. Cite pinpoints as 26 U.S.C. § 6405(a)(1).

## § 6405(a) By Treasury to Joint Committee

No refund or credit of any income, war profits, excess profits, estate, or gift tax, or any tax imposed with respect to public charities, private foundations, operators’ trust funds, pension plans, or real estate investment trusts under chapter 41, 42, 43, or 44, in excess of $2,000,000 ($5,000,000 in the case of a C corporation) shall be made until after the expiration of 30 days from the date upon which a report giving the name of the person to whom the refund or credit is to be made, the amount of such refund or credit, and a summary of the facts and the decision of the Secretary, is submitted to the Joint Committee on Taxation.

## § 6405(b) Tentative adjustments

Any credit or refund allowed or made under section 6411 shall be made without regard to the provisions of subsection (a) of this section. In any such case, if the credit or refund, reduced by any deficiency in such tax thereafter assessed and by deficiencies in any other tax resulting from adjustments reflected in the determination of the credit or refund, is in excess of $2,000,000 ($5,000,000 in the case of a C corporation), there shall be submitted to such committee a report containing the matter specified in subsection (a) at such time after the making of the credit or refund as the Secretary shall determine the correct amount of the tax.

## § 6405(c) Refunds attributable to certain disaster losses

If any refund or credit of income taxes is attributable to the taxpayer’s election under section 165(i) to deduct a disaster loss for the taxable year immediately preceding the taxable year in which the disaster occurred, the Secretary is authorized in his discretion to make the refund or credit, to the extent attributable to such election, without regard to the provisions of subsection (a) of this section. If such refund or credit is made without regard to subsection (a), there shall thereafter be submitted to such Joint Committee a report containing the matter specified in subsection (a) as soon as the Secretary shall determine the correct amount of the tax for the taxable year for which the refund or credit is made.

## Regulations

- [Treas. Reg. § 301.6405-1](/26/reg/301.6405-1.md): Reports of refunds and credits. (interprets § 6405)

## Leading cases

- [Oxford Life Insurance v. United States, 574 F. Supp. 1417 (D. Ariz. 1983)](https://www.courtlistener.com/opinion/1867247/oxford-life-insurance-v-united-states/)

## Connections

Cites: § 165 Losses; § 6411 Tentative carryback and refund adjustments

Cited by: § 7851 Applicability of revenue laws; § 8022 Duties

Derived from: 1939 § 3777(a)-(c)

## Amendments

- 1954-08-16: [Act Aug. 16, 1954, ch. 736](/26/act/1954-ch736.md), 68A Stat. 792
- 1972-08-29: [Pub. L. 92-418](/26/act/92-418.md), 86 Stat. 657
- 1972-10-20: [Pub. L. 92-512](/26/act/92-512.md), 86 Stat. 944
- 1976-10-04: [Pub. L. 94-455](/26/act/94-455.md), 90 Stat. 1711
- 1978-02-10: [Pub. L. 95-227](/26/act/95-227.md), 92 Stat. 23
- 1984-07-18: [Pub. L. 98-369](/26/act/98-369.md), 98 Stat. 946
- 1986-10-22: [Pub. L. 99-514](/26/act/99-514.md), 100 Stat. 2906
- 1990-11-05: [Pub. L. 101-508](/26/act/101-508.md), 104 Stat. 1388
- 2000-12-21: [Pub. L. 106-554](/26/act/106-554.md), 114 Stat. 2763
- 2014-12-19: [Pub. L. 113-295](/26/act/113-295.md), 128 Stat. 4055