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Treasury Regulations · 26 CFR

§ 1.6662-5T. Substantial and gross valuation misstatements under chapter 1 (temporary).

Temporary regulation eCFR current as of October 15, 2026

Regulation text, no changes From the eCFR, current as of October 15, 2026. The eCFR is an authoritative but unofficial editorial compilation of the Code of Federal Regulations; the official text is the annual CFR on govinfo. Compare it with this section on ecfr.gov (external site) or the official annual CFR on govinfo (external site).

Regulation under 26 U.S.C. § 6662

Cite as 26 CFR § 1.6662-5T

At a glance

Read from the text and its source citation. Not part of the regulation.

Status
In the current eCFR
Issued
February 9, 1996 by T.D. 8656
Last amended
April 1, 1996 by T.D. 8656
Issued under
26 U.S.C. § 6662
Length
221 words · about 1 min to read
Defines
1 term
Cross-references
cites 1 Code section and 3 regulations; cited by 1
(a)-(e)(3) [Reserved]. For further information, see § 1.6662-5(a) through (e)(3).
(e)
(4) Tests related to section 482—
(i) Substantial valuation misstatement. There is a substantial valuation misstatement if there is a misstatement described in § 1.6662-6 (b)(1) or (c)(1) (concerning substantial valuation misstatements pertaining to transactions between related persons).
(ii) Gross valuation misstatement. There is a gross valuation misstatement if there is a misstatement described in § 1.6662-6 (b)(2) or (c)(2) (concerning gross valuation misstatements pertaining to transactions between related persons).
(iii) Property. For purposes of this section, the term property refers to both tangible and intangible property. Tangible property includes property such as money, land, buildings, fixtures and inventory. Intangible property includes property such as goodwill, covenants not to compete, leaseholds, patents, contract rights, debts, choses in action, and any other item of intangible property described in § 1.482-4(b).
(f)-(h) [Reserved]. For further information, see § 1.6662-5 (f) through (h).
(i) [Reserved]
(j) Transactions between persons described in section 482 and net section 482 transfer price adjustments. For rules relating to the penalty imposed with respect to a substantial or gross valuation misstatement arising from a section 482 allocation, see § 1.6662-6.

[T.D. 8656, 61 FR 4879, Feb. 9, 1996; T.D. 8656, 61 FR 14248, Apr. 1, 1996]

Terms defined here

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Other regulations under § 6662

Cross-references

Computed from the citations in the text of 26 CFR.

Code sections it cites

Regulations it cites

Cited by 1 other regulation

Amendment history

From the source citation at the end of the section, newest first. T.D. is a Treasury decision; FR is the Federal Register.

  1. Amended by T.D. 8656 (61 FR 14248)
  2. Issued by T.D. 8656 (61 FR 4879)

Where it sits in 26 CFR

  1. Subchapter A Income tax
  2. Part 1 Income taxes
  3. Additions to the tax, additional amounts, and assessable penalties

Nearby sections