Sec. 6676 erroneous claim for refund penalty.

The article focuses on the Section 6676 in the U.S., which imposes a penalty on a taxpayer who files a claim for refund or credit of income tax in an amount that is determined to be excessive. Topics include prior to the enactment of Sec. 6676, a taxpayer could take an aggressive position on a claim for refund, and the Sec. 6676 penalty is stated to be equal to 20 percent of the excessive amount by which the claim for refund or credit exceeds the amount allowable for the tax year at issue.