26 U.S.C. § 6429 — Untitled legal text

Page 3682 TITLE 26—INTERNAL REVENUE CODE [§ 6429 retary to make payments to such taxpayers under subsection (g) (including the determina- tion of the amount of such payment) if such information is not otherwise available to the Secretary, and (2) regulations or other guidance to ensure to the maximum extent administratively prac- ticable that, in determining the amount of any credit under subsection (a) and any credit or refund under subsection (g), an individual is not taken into account more than once, in- cluding by different taxpayers and including by reason of a change in joint return status or dependent status between the taxable year for which an advance refund amount is deter- mined and the taxable year for which a credit under subsection (a) is determined. (i) Outreach The Secretary shall carry out a robust and comprehensive outreach program to ensure that all taxpayers described in subsection (h)(1) learn of their eligibility for the advance refunds and credits under subsection (g); are advised of the opportunity to receive such advance refunds and credits as provided under subsection (h)(1); and are provided assistance in applying for such ad- vance refunds and credits. (Added Pub. L. 117–2, title IX, § 9601(a), Mar. 11, 2021, 135 Stat. 138.) Statutory Notes and Related Subsidiaries TREATMENT OF CERTAIN POSSESSIONS Pub. L. 117–2, title IX, § 9601(b), Mar. 11, 2021, 135 Stat. 142, provided that: ‘‘(1) PAYMENTS TO POSSESSIONS WITH MIRROR CODE TAX SYSTEMS.—The Secretary of the Treasury shall pay to each possession of the United States which has a mir- ror code tax system amounts equal to the loss (if any) to that possession by reason of the amendments made by this section. Such amounts shall be determined by the Secretary of the Treasury based on information provided by the government of the respective posses- sion. ‘‘(2) PAYMENTS TO OTHER POSSESSIONS.—The Secretary of the Treasury shall pay to each possession of the United States which does not have a mirror code tax system amounts estimated by the Secretary of the Treasury as being equal to the aggregate benefits (if any) that would have been provided to residents of such possession by reason of the amendments made by this section if a mirror code tax system had been in effect in such possession. The preceding sentence shall not apply unless the respective possession has a plan, which has been approved by the Secretary of the Treasury, under which such possession will promptly distribute such payments to its residents. ‘‘(3) INCLUSION OF ADMINISTRATIVE EXPENSES.—The Secretary of the Treasury shall pay to each possession of the United States to which the Secretary makes a payment under paragraph (1) or (2) an amount equal to the lesser of— ‘‘(A) the increase (if any) of the administrative ex- penses of such possession— ‘‘(i) in the case of a possession described in para- graph (1), by reason of the amendments made by this section, and ‘‘(ii) in the case of a possession described in para- graph (2), by reason of carrying out the plan de- scribed in such paragraph, or ‘‘(B) $500,000 ($10,000,000 in the case of Puerto Rico). The amount described in subparagraph (A) shall be de- termined by the Secretary of the Treasury based on in- formation provided by the government of the respec- tive possession. ‘‘(4) COORDINATION WITH CREDIT ALLOWED AGAINST UNITED STATES INCOME TAXES.—No credit shall be al- lowed against United States income taxes under sec- tion 6428B of the Internal Revenue Code of 1986 (as added by this section), nor shall any credit or refund be made or allowed under subsection (g) of such section, to any person— ‘‘(A) to whom a credit is allowed against taxes im- posed by the possession by reason of the amendments made by this section, or ‘‘(B) who is eligible for a payment under a plan de- scribed in paragraph (2). ‘‘(5) MIRROR CODE TAX SYSTEM.—For purposes of this subsection, the term ‘mirror code tax system’ means, with respect to any possession of the United States, the income tax system of such possession if the income tax liability of the residents of such possession under such system is determined by reference to the income tax laws of the United States as if such possession were the United States. ‘‘(6) TREATMENT OF PAYMENTS.—For purposes of sec- tion 1324 of title 31, United States Code, the payments under this subsection shall be treated in the same man- ner as a refund due from a credit provision referred to in subsection (b)(2) of such section.’’ EXCEPTION FROM REDUCTION OR OFFSET Pub. L. 117–2, title IX, § 9601(c)(2), Mar. 11, 2021, 135 Stat. 143, provided that: ‘‘Any refund payable by reason of section 6428B(g) of the Internal Revenue Code of 1986 (as added by this section), or any such refund payable by reason of subsection (b) of this section [set out above], shall not be— ‘‘(A) subject to reduction or offset pursuant to sub- section (c), (d), (e), or (f) of section 6402 of the Inter- nal Revenue Code of 1986 or any similar authority permitting offset, or ‘‘(B) reduced or offset by other assessed Federal taxes that would otherwise be subject to levy or col- lection.’’ [§ 6429. Repealed. Pub. L. 113–295, div. A, title II, § 221(a)(113), Dec. 19, 2014, 128 Stat. 4054] Section, added Pub. L. 108–27, title I, § 101(b)(1), May 28, 2003, 117 Stat. 753, related to advance payment of portion of increased child credit for 2003. A prior section 6429, added Pub. L. 96–499, title XI, § 1131(a)(1), Dec. 5, 1980, 94 Stat. 2691; amended Pub. L. 97–34, title VI, § 601(a)(1)–(5), Aug. 13, 1981, 95 Stat. 335, 336; Pub. L. 97–448, title I, § 106(a)(1), (3), Jan. 12, 1983, 96 Stat. 2387, 2388, related to credit and refund of chapter 45 windfall profit taxes on domestic crude oil paid by royalty owners, prior to repeal by Pub. L. 100–418, title I, § 1941(b)(1), (c), Aug. 23, 1988, 102 Stat. 1323, 1324, appli- cable to crude oil removed from the premises on or after Aug. 23, 1988. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF REPEAL Repeal effective Dec. 19, 2014, subject to a savings provision, see section 221(b) of Pub. L. 113–295, set out as an Effective Date of 2014 Amendment note under sec- tion 1 of this title. § 6430. Treatment of tax imposed at Leaking Un- derground Storage Tank Trust Fund financ- ing rate No refunds, credits, or payments shall be made under this subchapter for any tax imposed at the Leaking Underground Storage Tank Trust Fund financing rate, except in the case of fuels— (1) which are exempt from tax under section 4081(a) by reason of section 4082(f)(2), (2) which are exempt from tax under section 4041(d) by reason of the last sentence of para- graph (5) thereof, or