26 C.F.R. § 1.667(a)-1A Denial of refund to trusts.
Title 26 - Internal Revenue
If an amount is deemed under section 666 or 669 to be an amount paid, credited, or required to be distributed on the last day of a preceding taxable year, the trust is not allowed a refund or credit of the amount of “taxes imposed on the trust”, as defined in §1.665(d)–1A. However, such taxes imposed on the trust are allowed as a credit under section 667(b) against the tax of certain beneficiaries who are treated as having received the distributions in the preceding taxable year. [T.D. 7204, 37 FR 17147, Aug. 25, 1972]
Title 26: Internal Revenue
PART 1—INCOME TAXES
treatment of excess distributions of trusts applicable to taxable years beginning before january 1, 1969
§ 1.667(a)-1A Denial of refund to trusts.