- 9 - & Admin. Regs., supra. The RAA may be filed no later than (i) 3 years after the later of the filing date or due date of the partnership return for the taxable year to which the request relates, and (ii) the date on which an FPAA is mailed to the tax matters partner with respect to that taxable year. Sec. 6227(a). If a request to change the treatment of a partnership item conforming to the requirements of section 6227 is received by the Secretary, he is authorized to approve it or take certain specified actions necessary for resolution of the issue through a unified partnership proceeding or through regular deficiency or refund procedures. Sec. 6227(c). The statute does not authorize the Secretary to consider a nonconforming request. A partner’s distributive share of investment credit is a partnership item for purposes of the TEFRA provisions. Maxwell v. Commissioner, 87 T.C. 783, 790 (1986); Southern v. Commissioner, 87 T.C. 49, 54 (1986); sec. 301.6231(a)(3)-1(a), Proced. & Admin. Regs. Petitioners attempted to revoke the investment credit claimed for 1985 by filing Form 1040X without Form 8082. They filed their amended return for 1985 after respondent had mailed an FPAA to the tax matters partner and approximately 6 years after the Ethanol return for the 1985 taxable year would have been due. Petitioners did not satisfy the statutory requirements, and consequently their amended return was not effective to change the treatment of the investment credit on their original 1985 return.6 6 If petitioners’ amended return for 1986 purported to (continued...)Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 Next
Last modified: May 25, 2011