- 38 - partner is treated as a party to the proceeding and the partnership items are treated as partnership items, unless the partner elects to have them treated as nonpartnership items as of the day on which the Secretary mails the partner notice of the proceeding. Sec. 6223(e)(3); sec. 301.6223(e)-2T(b)(2), Temporary Proced. & Admin. Regs., 52 Fed. Reg. 6785 (Mar. 5, 1987). Each partner makes an independent election under section 6223(e). Thus, it is evident that this remedy provision is applied to each partner on an individual basis. Wind Energy Technology Associates III v. Commissioner, 94 T.C. at 790-791. The remedy provision, section 6223(e), is one of four events described by section 6231(b)(1) under which partnership items of a partner become nonpartnership items. Section 6231(b)(1) prescribes the date on which the change will be deemed to take place for purposes of the unified audit and litigation provisions. In the case of section 6223(e), section 6231(b)(1)(D) provides that the date on which the change occurs for purpose of the unified audit and litigation procedures is the date on which the change occurs under section 6223(e); that is, "the day on which the Service mails the partner notice of proceeding." Sec. 301.6223(e)-2T(a)(2) and (b)(2), Temporary Proced. & Admin. Regs., supra.Page: Previous 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 Next
Last modified: May 25, 2011