2015 US Code
Title 26 - Internal Revenue Code (Sections 1 - 9834)
Subtitle F - Procedure and Administration (Sections 6001 - 7874)
Chapter 74 - Closing Agreements and Compromises (Sections 7121 - 7124)
Sec. 7121 - Closing agreements
Publication Title | United States Code, 2012 Edition, Supplement 3, Title 26 - INTERNAL REVENUE CODE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 26 - INTERNAL REVENUE CODE Subtitle F - Procedure and Administration CHAPTER 74 - CLOSING AGREEMENTS AND COMPROMISES Sec. 7121 - Closing agreements |
Contains | section 7121 |
Date | 2015 |
Laws In Effect As Of Date | January 3, 2016 |
Positive Law | No |
Disposition | standard |
Source Credit | Aug. 16, 1954, ch. 736, 68A Stat. 849; Pub. L. 94-455, title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834. |
Statutes at Large Reference | 90 Stat. 1834 |
Public and Private Law | Public Law 94-455 |
Download PDF
The Secretary is authorized to enter into an agreement in writing with any person relating to the liability of such person (or of the person or estate for whom he acts) in respect of any internal revenue tax for any taxable period.
(b) FinalityIf such agreement is approved by the Secretary (within such time as may be stated in such agreement, or later agreed to) such agreement shall be final and conclusive, and, except upon a showing of fraud or malfeasance, or misrepresentation of a material fact—
(1) the case shall not be reopened as to the matters agreed upon or the agreement modified by any officer, employee, or agent of the United States, and
(2) in any suit, action, or proceeding, such agreement, or any determination, assessment, collection, payment, abatement, refund, or credit made in accordance therewith, shall not be annulled, modified, set aside, or disregarded.
(Aug. 16, 1954, ch. 736, 68A Stat. 849; Pub. L. 94–455, title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.)
AMENDMENTS1976—Subsecs. (a), (b). Pub. L. 94–455 struck out "or his delegate" after "Secretary".
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.