26 U.S.C. § 6622
Interest compounded daily
In computing the amount of any interest required to be paid under this title or sections 1961(c)(1) or 2411 of title 28, United States Code, by the Secretary or by the taxpayer, or any other amount determined by reference to such amount of interest, such interest and such amount shall be compounded daily.
Subsection (a) shall not apply for purposes of computing the amount of any addition to tax under section 6654 or 6655.
Pub. L. 97–248, title III, § 344(c),
Notes of Decisions
Cited in 45
cases (4 in the last 5 years), 1984–2023 · leading case: United States v. Myers, 236 F. Supp. 3d 702 (E.D.N.Y 2017).
United States v. Myers, 236 F. Supp. 3d 702 (E.D.N.Y 2017). “See 26 U.S.C. § 6622 (“In computing the amount of any interest required to be paid under this title .”
Gates v. Raytheon Co., 584 F.3d 1062 (Fed. Cir. 2009). “Relatedly, 26 U.S.C. § 6622 (a) requires that: In computing the amount of any interest required to be paid under this title or sections 1961(c)(1) or 2411 of title 28, United States Code, by the Secretary or by the taxpayer, or any other amount determined by reference to such…”
United States v. Barbara Coney, 689 F.3d 365 (5th Cir. 2012). “” 26 U.S.C. § 6622 . Moreover, combining the couple’s tax liabilities from different years into one judgment does not have any effect on the calculation of interest.”
Hughes Aircraft Co. v. United States, 31 Fed. Cl. 481 (Fed. Cl. 1994). “E For delay damages accruing on or after February 1, 1980, we award the tax overpayment rates prescribed by 26 U.”
Fendi Adele S.R.L. v. Burlington Coat Factory Warehouse Corp., 689 F. Supp. 2d 585 (S.D.N.Y. 2010). “26 U.S.C. § 6622 (a) (“In computing the amount of any interest required to be paid under this title .”
Canadian Fur Trappers Corp. v. United States, 691 F. Supp. 364 (Ct. Intl. Trade 1988). “Under 26 U.S.C. § 6622 , any interest calculated by reference to § 6621 is to be compounded daily, effective for interest accruing after December 31, 1982 (pursuant to the effective date of 26 U.”
United States v. Bragg, 582 F.3d 965 (9th Cir. 2009). “26 U.S.C. § 6622 . In addition, a mandatory penalty was to be applied in a case of tax fraud.”
Herbert M. Gannet & Ruth Gannet v. The United States, 877 F.2d 965 (Fed. Cir. 1989). “Codified in the note to 26 U.S.C. § 6622 (1982). Section 6622 provides, in pertinent part: (a) General Rule — In computing the amount of any interest required to be paid under this title .”
Gen. Elec. Co. & Subsidiaries v. United States, 384 F.3d 1307 (Fed. Cir. 2004). “26 U.S.C. § 6622 . In 1994, Congress amended section 6621(a)(1) by adding the following language: To the extent that an overpayment of tax by a corporation for any taxable period (as defined in subsection (c)(3)) exceeds $10,000, subparagraph (B) shall be applied by substituting…”
Pettibone Corp. v. United States, 34 F.3d 536 (7th Cir. 1994). “6611-l(h)(2)(v) was rendered “obsolete” in 1982 when Congress enacted 26 U.S.C. § 6622 . This statute provides for daily compounding of interest on over- and underpayments.”
Dudley J. Godfrey, Jr. & Constance P. Godfrey v. United States, 997 F.2d 335 (7th Cir. 1993). “§ 6621 , provides the rate at which interest accrues on overpayments for purposes of section 6611, and under 26 U.S.C. § 6622 the interest compounds daily.”
Hughes Aircraft Co. v. The United States, Defendant/cross-Appellant, 86 F.3d 1566 (Fed. Cir. 1996). “The court held that the delay damages for the period from 1973 to 1980 should be compounded annually and for the period after February 1, 1980 should be compounded daily as provided for in the tax overpayment compounding provision, 26 U.S.C. § 6622 (a). Id. at 493, 494-95 , 35…”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.