- 39 -
We turn to the period of limitations on assessment and
collection of the tax imposed by subtitle A of the Internal
Revenue Code. Under the general rule set forth in section
6501, the Secretary is required to assess the tax within
3 years after the taxpayer's return is filed. Sec.
6501(a). In the case of the tax imposed on partnership
items, however, section 6229 sets forth special rules to
extend the period of limitations prescribed by section
6501. See sec. 6501(o)(2).
Section 6229(a) provides that, generally, the period
of limitations for assessing the tax attributable to
partnership items shall not expire before 3 years after
the date on which the partnership return was filed, or,
if later, the last day for filing such return. This period
can be extended with respect to a particular partner by
agreement entered into by the Secretary and the partner,
or with respect to all partners by an agreement entered
into by the Secretary and the tax matters partner or a
person authorized by the partnership to enter into such
an agreement. Sec. 6229(b). If the Secretary mails a
notice of FPAA to the tax matters partner, section 6229(d)
suspends the running of the period of limitations on
assessment for the period during which an action can be
brought to challenge the notice of FPAA in court and for 1
Page: Previous 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 NextLast modified: May 25, 2011