IRS Publication 17 — Your Federal Income Tax (Individuals)
This is the passage the answer relied on, shown in the document's own words. The highlighted text is the exact excerpt quoted — extracted verbatim by the citation system, so it cannot be fabricated.
Open official source at page 58 ↗
“Note: Exempt-interest dividends paid by a mutual fund or other RIC on specified private activity bonds may be subject to the alternative minimum tax (AMT). The exempt -interest divi- dends subject to the AMT should be shown on Form 1099 -DIV , box 13.”
The IRS provides a direct method to move your claim to court if:
• You are filing a claim for a credit or refund based solely on contested income tax or on estate tax or gift tax issues considered in your previously examined returns, and
• You want to take your case to court instead of appealing it within the IRS.
When you file your claim with the IRS, you get the direct method by requesting in writing that your claim be immediately rejected. A notice of claim disallowance will be sent to you. You have 2 years from the date of mailing of the notice of claim disallowance to file a refund suit in the U.S. District Court having jurisdiction or in the U.S. Court of Federal Claims.
Interest on refund. If you receive a refund because of your amended return, interest will be paid on it from the due date of your original return or the date you filed your original return, whichever is later, to the date you filed the amended return. However, if the refund isn’t made within 45 days after you file the amended return, interest will be paid up to the date the refund is paid. Reduced refund. Your refund may be reduced by an additional tax liability that has been assessed against you. Also, your refund may be reduced by amounts you owe for past-due federal tax, state income tax, state unemployment compensation debts, child support, spousal support, or certain other federal nontax debts, such as student loans. If your spouse owes these debts, see Offset against debts under Refunds, earlier, for the correct refund procedures to follow.
Effect on state tax liability. If your return is changed for any reason, it may affect your state income tax liability. This includes changes made as a result of an examination of your return by the IRS. Contact your state tax agency for more information.
Penalties The law provides penalties for failure to file returns or pay taxes as required. Civil Penalties If you don’t file your return and pay your tax by the due date, you may have to pay a penalty. You may also have to pay a penalty if you substantially understate your tax, understate a reportable transaction, file an erroneous claim for refund or credit, file a frivolous tax submission, or fail to supply your SSN or ITIN. If you provide Publication 17 (2025) Chapter 1 Filing Information 19
Excerpt shown from a longer document — use the official source button above to read the complete publication.