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is what is meant by the term “tax” in the phrase “the final
determination of tax”. Respondent, on the other hand, argues
that only a closing agreement covering all adjustments or issues
for an entire year can finalize a taxpayer’s liability for that
year. Respondent’s argument presumes that the phrase “the final
determination of tax” means the final determination of the
taxpayer’s tax for the entire year.
We agree with respondent that the words used in the
agreement evince an intent that only a final determination of the
Joneses’ tax for the entire period covered by the agreement would
terminate the agreement. Paragraph (2) of the agreement states
that “Some assessments do not reflect a final determination” and
then sets forth some examples, including the assessment of “tax
under a partial agreement” and the assessment of "advance
payments". We interpret the closing agreement with respect to
the art tax shelter to be a partial agreement, in that the
closing agreement did not purport to cover the Joneses’ entire
1981 taxable year. The closing agreement was limited only to the
art tax shelter adjustment. Consequently, the assessment of tax
with respect to the art tax shelter adjustment was not a final
determination of tax as called for in the Form 872-A. See
Drummond Co. v. United States, 70 AFTR 2d 92-5185, 92-2 USTC par.
50,339, (N.D. Ala. 1992).
Even were we to conclude that the words used in the Form
872-A are susceptible of more than one meaning and, therefore,
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