EXTENSION OF TIME FOR FILING CLAIMS FOR REFUNDS OF OVERPAYMENTS OF INCOME TAX BASED UPON EDUCATION EXPENSES PAID OR INCURRED IN 1954.

SEC. 96. EXTENSION OF TIME FOR FILING CLAIMS FOR REFUNDS OF OVERPAYMENTS OF INCOME TAX BASED UPON EDUCATION EXPENSES PAID OR INCURRED IN 1954. If refund or credit of any overpayment of income tax— (1) for any taxable year beginning after December 31, 1953, and ending after August 16, 1954, and (2) resulting from the application of section 162 of the Internal Revenue Code of 1954 (relating to trade or business expenses) insofar as such section relates to expenses described in Income Tax Regulations § 1.162–5 (relating to expenses for education) as promulgated by Treasury Decision 6291 (23 Federal Register 2244), is prevented on the date of the enactment of this Act, or within 60 days after such date, by the operation of any law or rule of law (other than chapter 74 of the Internal Revenue Code of 1954, relating to closing agreements and compromises), refund or credit of such overpayment may, nevertheless, be made or allowed if claim therefor has been filed on or before such date or is filed within 60 days after such date.