8
resulted from the refund issued to petitioners after they filed
their return on August 19, 1991.
Exactitude is not required in making an estimation of one's
tax liability for purposes of an automatic extension. Crocker v.
Commissioner, 92 T.C. 899, 907 (1989). A taxpayer must make a
bona fide and reasonable estimate of the tax liability based on
the information available when a request for extension is made.
Id. at 908; see Berlin v. Commissioner, 59 F.2d 996 (2d Cir.
1932), affg. a Memorandum Opinion of this Court. Therefore, we
find that petitioners properly estimated their tax liability,
and, as such, the time in which petitioners were permitted to
file was extended 3 months. Because the envelope containing
their 1990 return was postmarked on August 15, 1991, we conclude
that petitioners are not liable for an addition to tax under
section 6651(a)(1).
To reflect the foregoing,
Decision will be entered
for respondent, except as to
the addition to tax under
sec. 6651(a)(1).
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