Treasury Regulations · 26 CFR

§ 53.4961-1. Abatement of second tier taxes for correction within correction period.

In effect 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. § 4961

Cite as 26 CFR § 53.4961-1

At a glance

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

Status: In the current eCFR
Issued under: 26 U.S.C. § 4961
Length: 88 words · about 1 min to read
Cross-references: cites 0 Code sections and 1 regulation; cited by 0

If any taxable event is corrected during the correction period for the event, then any second tier tax imposed with respect to the event shall not be assessed. If the tax has been assessed, it shall be abated. If the tax has been collected, it shall be credited or refunded as an overpayment. For purposes of this section, the tax imposed includes interest, additions to the tax and additional amounts. For definitions of the terms second tier tax, taxable event, correct, and correction period, see § 53.4963-1.