Robert C. Austin - Page 11

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          remittance was a payment of tax, whereas petitioner argues that             
          it was a deposit in the nature of a cash bond.                              
               In Risman v. Commissioner, 100 T.C. 191, 197 (1993), an                
          earlier case involving a taxpayer's remittance with a Form 4868,            
          this Court stated that "A remittance by a taxpayer to respondent            
          generally will not be regarded as a payment of Federal income tax           
          until the taxpayer intends that the remittance satisfy what the             
          taxpayer regards as an existing tax liability."  We concluded               
          that "remittances made by taxpayers with Form 4868 extension                
          requests are not necessarily to be treated, as a matter of law,             
          as payments of tax as of the filing date of the associated income           
          tax return".  Id. at 203.  We applied instead a facts and                   
          circumstances test in ascertaining the taxpayer's intent.                   
               In Risman v. Commissioner, supra, the taxpayers made a                 
          remittance with a Form 4868 in an amount of $25,000 that bore no            
          good faith relationship to the taxpayers' tax liability for the             
          year specified, i.e., an arbitrary, disorderly, or random                   
          remittance.  The IRS treated the remittance as a deposit by                 
          placing it in a suspense account upon receipt.  The taxpayers               
          wrote to the IRS approximately 14 months later indicating that              
          the remittance had not been based on any estimate of their tax              
          liability for that year and that they expected the remittance               
          would be applied to future taxes owed on tax returns not yet                
          filed.  At the time of their letter, the taxpayers were                     
          delinquent in filing the return for the year specified on the               

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