Exempt Organizations Technical Guide›TG 62: Excise Taxes on Taxable Expenditures – IRC Section 4945›Table of Contents
E. Correction Period
Publication 5590 — Exempt Organizations Technical Guide TG 62: Excise Taxes on Taxable Expenditures under IRC 4945 · 2026-10-03 edition · updated 2026-10-04 · United States
(1) Under Section 4963(e), the correction period is the period beginning on the first
day on which the taxable event occurs and ending 90 days after the date of mailing under Section 6212 of a notice of deficiency with respect to the additional tax, extended by:
a. Any period in which a deficiency cannot be assessed under Section 6213(a)
(determined without regard to the supplemental proceeding provided for under Section 4961(b), and
b. Any other period which the IRS determines is reasonable and necessary to
bring about correction.
(2) See Section 4963(e)(2) which sets forth special rules for when the taxable event
occurs.
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