2013 Taxation · Question I — Bar Review · JurisAtlas

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Question I

2013 Bar · Taxation · 1 sub-question

In its final adjustment return for the 2010 taxable year, ABC Corp. had excess tax credits arising from its over-withholding of income payments. It opted to carry over the excess tax credits to the following year. Subsequently, ABC Corp. changed its mind and applied for a refund of the excess tax credits. Will the claim for refund prosper?

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