Robert E. Wadlow and Connie V. Wadlow - Page 13




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               CHABOT, and FOLEY, JJ., concurring:  We agree with the                 
          majority opinion, and write separately to emphasize that section            
          183(e)(4) extends the period for assessing a deficiency, but it             
          does not provide an independent basis for extending the                     
          limitation period for overpayments.  Nevertheless, the period of            
          limitation for overpayments is extended because a section                   
          183(e)(4) election meets the requirements of a section 6501(c)(4)           
          agreement.                                                                  
          I.  Statutory Requirements of Section 6501(c)(4) Are Met.                   
               The basic issue before us is whether petitioners' claim for            
          refund was timely.  This Court pursuant to section 6512(b)(1) has           
          jurisdiction to determine the existence and amount of any                   
          overpayment of tax.  Section 6512(b)(3)(B) prohibits this Court             
          from awarding a refund unless we determine that petitioners'                
          claim was timely under section 6511.                                        
               Section 6511(c) provides that the normal period of                     
          limitation for filing a claim for refund may be extended if there           
          is "an agreement under the provisions of section 6501(c)(4)                 
          extending the period for assessment of a tax".  Section 6501                
          provides rules that limit assessment and collection.1  More                 


               1    Sec. 6501 provides, in pertinent part, as follows:                
               SEC. 6501.  LIMITATIONS ON ASSESSMENT AND COLLECTION.                  
                    (a) General Rule.--Except as otherwise provided in this           
                                                             (continued...)           




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