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petitioner and because "No tax was due or could be due on the
returns filed by the Petitioner for the applicable periods", the
Form 872 does not extend the period of limitations to assess tax.
Petitioner, however, concedes:
it intended to extend the period in which the
Respondent was required to assess a tax for unrelated
business income for the periods ended April 30, 1986,
April 30, 1987, April 30, 1988, April 30, 1989 and the
three-month period ended July 31, 1989 (the "applicable
periods") or issue a notice of deficiency to the
Petitioner.
As we construe the parties' use of the language "income tax
due on any return(s) made by or for the above taxpayer(s)", we
think it is broad enough to include a return deemed made pursuant
to section 6501(g)(2); i.e., a Form 990-T.4 We therefore hold
that the parties duly extended until April 30, 1993, the period
of limitations within which respondent could assess deficiencies
in petitioner’s unrelated business income tax for the periods in
issue. The notice of deficiency was mailed to petitioner before
that date, and consequently the limitations period remains open.
4 Even if the language could not be construed to include a
deemed return, we would conclude that the Form 872 could be
reformed. Where a written agreement does not conform with the
actual agreement between the parties, the Court may reform the
writing to conform with the parties' intentions. Woods v.
Commissioner, 92 T.C. 776, 782 (1989). In light of petitioner's
concession concerning its intent to extend the period of
limitations, the Form 872 may properly be reformed to conform to
the agreement and intent of the parties. The evidence is clear
and convincing that the parties intended to extend the period of
limitations with respect to returns made as well as those "deemed
made" by reason of sec. 6501(g)(2).
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