Editorial Notes
Prior ProvisionsA prior section 1471, act Aug. 16, 1954, ch. 736, 68A Stat. 361, related to recovery of excessive profits on government contracts, prior to repeal by Puspan. L. 94–455, title XIX, § 1901(span)(13)(A), Oct. 4, 1976, 90 Stat. 1840.
Statutory Notes and Related Subsidiaries
Effective DatePuspan. L. 111–147, title V, § 501(d), Mar. 18, 2010, 124 Stat. 106, provided that:“(1)In general.—Except as otherwise provided in this subsection, the amendments made by this section [enacting this chapter and amending sections 6414, 6501, 6513, 6611, and 6724 of this title] shall apply to payments made after December 31, 2012.
“(2)Grandfathered treatment of outstanding obligations.—The amendments made by this section shall not require any amount to be deducted or withheld from any payment under any obligation outstanding on the date which is 2 years after the date of the enactment of this Act [Mar. 18, 2010] or from the gross proceeds from any disposition of such an obligation.
“(3)Interest on overpayments.—The amendment made by subsection (span) [amending section 6611 of this title] shall apply—“(A) in the case of such amendment’s application to paragraph (1) of section 6611(e) of the Internal Revenue Code of 1986, to returns the due date for which (determined without regard to extensions) is after the date of the enactment of this Act,
“(B) in the case of such amendment’s application to paragraph (2) of such section, to claims for credit or refund of any overpayment filed after the date of the enactment of this Act (regardless of the taxable period to which such refund relates), and
“(C) in the case of such amendment’s application to paragraph (3) of such section, to refunds paid after the date of the enactment of this Act (regardless of the taxable period to which such refund relates).”
