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OPINION
A. Whether Petitioners' Forms 4868 Are Valid
1. Contentions of the Parties
Petitioners contend that the Forms 4868 that they filed for
1990, 1991, and 1992 are valid because they used the same method
to estimate their tax liability for the years in issue that they
have always used, petitioner was busy with his work, petitioners
did not receive the partnership tax returns or Schedules K-1
for 1990 from the law firm in time to prepare the returns by
April 15, 1991, and, as to their estimate for 1990, they did not
know that they had received the $35,000 pension distribution in
1990.
Respondent contends that the Forms 4868 are invalid because
petitioners did not properly estimate their tax liabilities for
the years to which the Forms 4868 relate.
2. Background
A calendar year taxpayer generally must file returns by
April 15 after the close of the calendar year. Sec. 6072(a).
The Commissioner may grant a reasonable extension of time to file
a return. Sec. 6081(a). A 4-month extension is automatic if a
taxpayer timely files a properly prepared Form 4868. Sec.
1.6081-4(a)(1) and (2), Income Tax Regs.
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Last modified: May 25, 2011