Walter R. Ripley, Donee-Transferee of Mildred M. Ripley, Donor, and Melynda H. Ripley, Donee-Transferee of Mildred M. Ripley, Donor - Page 13

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          the limitations periods under section 6501, including those                 
          extended by agreement pursuant to section 6501(c)(4), stating (at           
          283):                                                                       
               any extension agreement which gives rise to a                          
               prohibition against assessment is subject to Section                   
               6503(a).  Whenever the taxpayer and the IRS extend the                 
               limitations period for assessment to a point in time                   
               triggered by the sending of a notice of deficiency, the                
               Government has the benefit of the suspension contained                 
               in Section 6503(a), and if a notice of deficiency is in                
               fact sent, thereby triggering a period of prohibition                  
               against assessment, the taxpayer cannot rely on any                    
               contrary clause in the extension agreement to                          
               eviscerate Section 6503(a)'s protection.  Moreover, if                 
               the taxpayer files for a redetermination of deficiency                 
               in the Tax Court, the second parenthetical provision of                
               Section 6503(a) operates to further suspend the                        
               limitations period until 60 days after the decision of                 
               the Tax Court becomes final.  * * * [Emphasis added.]                  
               The same result had been reached in an alternative holding             
          in Ramirez v. United States, 210 Ct. Cl. 537, 538 F.2d 888, 893             
          (1976), where the Court stated:                                             
               Since the agreement entered into between the parties                   
               was clearly done under authority of section 6501(c)(4),                
               the extended contractual period of limitation was as                   
               much a "period of limitations provided for in section                  
               6501" as was the otherwise controlling general 3-year                  
               period provided for in section 6501(a).  Consequently,                 
               upon the mailing of the notice of deficiency by the                    
               government, section 6503(a)(1), on its own suspended                   
               the extended contractual period of limitation for the                  
               same 150 days and, without the aid of the automatic                    
               extension proviso in the agreement, the assessment                     
               would have been timely in any case.  [Fn. ref.                         
               omitted.]                                                              
               We agree with the analysis in Ramirez and Lansburgh and                
          reach the same result here.  Although the consent agreement would           
          apparently on its face result in the expiration of the assessment           





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