PUBLIC LAW 95-600—NOV. 6, 1978
92 STAT. 2819
"(B) by any person authorized to do so by the partnership in writing. "(4) FEDERALLY REGISTERED PARTNERSHIP.—For purposes of this subsection, the term 'federally registered partnership' means, with respect to any partnership taxable year, any partnership— "(A) interests in which have been offered for sale at any time during such taxable year or a prior taxable year in any offering required to be registered with the Securities and Exchange Commission, or "(B) which, at any time during such taxable year or a prior taxable year, was subject to the annual reporting requirements of the Securities and Exchange Commission which relate to the protection of investors in the partnership." (b) CREDITS AND REFUNDS.—
(1) IN GENERAL.—Section 6511 (relating to limitations on credit 26 USC 6511. or refund) is amended by redesignating subsection (g) as subsection (h) and by inserting after subsection (f) the following new subsection: "(g) SPECIAL RULE FOR PARTNERSHIP ITEMS OF FEDERALLY REGISTERED PARTNERSHIPS.—
"(1) IN GENERAL.—In the case of any tax imposed by subtitle A with respect to any person, the period for filing a claim for credit or refund of any overpayment attributable to any partnership item of a federally registered partnership shall not expire before the later of— "(A) the date which is 4 years after the date prescribed by law (including extensions thereof) for filing the partnership return for the partnership taxable year in which the item arose, or "(B) if an agreement under the provisions of section 6501(c)(4) extending the period for the assessment of any deficiency attributable to such partnership item is made before the date specified in subparagraph (A), the date 6 months after the expiration of such extension. In any case to which the preceding sentence applies, the amount of the credit or refund may exceed the portion of the tax paid within the period provided in subsection (b)(2) or (c), whichever is applicable. "(2) DEFINITIONS.—For purposes of this subsection, the terms 'partnership item' and 'federally registered partnership' have the same meanings as such terms have when used in section 6501(q)." (2) TECHNICAL AMENDMENT.—Paragraph (2) of section 6512(b) 26 USC 6512. (relating to overpayment determined by Tax Court) is amended by striking out "(c), or (d)" each place it appears and inserting in lieu thereof "(c), (d), or (g)". (c) EFFECTIVE DATE.—The amendments made by this section shall 26 USC 6501 apply to partnership items arising in partnership taxable years "o*^beginning after December 31, 1978.
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