[Code of Federal Regulations]
[Title 27, Volume 1]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR24.70]

[Page 544-545]
 
            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS
 
 CHAPTER I--ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE 
                                TREASURY
 
PART 24--WINE--Table of Contents
 
         Subpart C--Administrative and Miscellaneous Provisions
 
Sec. 24.70  Claims for credit of tax.

    Claims for credit of tax, as provided in this part, may be filed 
after determination of the tax whether or not the tax has been paid. 
Where a claim for credit of tax is filed, the claimant shall, upon 
receipt of notification of allowance of credit from the appropriate ATF 
officer, make an adjusting entry on the next tax return (or returns) to 
the extent necessary to exhaust the credit. The claimant shall also make 
an explanatory statement on each tax return specifically identifying the 
notification of allowance of credit. The claimant may not anticipate 
allowance of a credit or make an adjusting entry in a tax return until 
ATF has acted on the claim. (Sec. 201, Pub. L. 85-859, 72 Stat. 1332, as 
amended, 1335, as amended, 1381, as amended, 1395, as amended (26 U.S.C. 
5043, 5044, 5061, 5370, 5555))

(Approved by the Office of Management and Budget under control number 
1512-0492)

[T.D. ATF-299, 55 FR 24989, June 19, 1990, as amended by T.D. ATF-409, 
64 FR 13683, Mar. 22, 1999]

[[Page 545]]

                             Tax Exempt Wine