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the deficiency from the due date of his return until the
deficiency is paid.
Summary of Facts
The notice of deficiency dated March 24, 1995, inter alia,
advised petitioner that if he decided not to file a petition with
this Court, he should sign an enclosed waiver form, which would
“permit us to assess the deficiency quickly and limit the
accumulation of interest.” (Emphasis added.) The attached waiver
form provided, in part, “I consent to the immediate assessment
and collection of the deficiencies (increase in tax and
penalties) shown above, plus any interest.” (Emphasis added.)
The form also provided: “If you consent to the assessment of the
deficiencies shown in this waiver, please sign and return this
form to limit the interest charge”. (Emphasis added.) The form
entitled “Income Tax Examination Changes”, which lists the
adjustments made by respondent, reflects a computation of
interest “to 01/04/95" in the amount of $3,954. Schedule 5 of
the notice of deficiency provides the details of that interest
computation. Petitioner did not sign the waiver form. Finally,
the Decision document signed by petitioner provides:
It is further stipulated that, effective upon the entry
of this decision by the Court, petitioner waives the
restriction contained in I.R.C. section 6213(a)
prohibiting assessment and collection of the deficiency
and additions to tax (plus statutory interest) until
the decision of the Tax Court has become final.
[Emphasis added.]
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Last modified: May 25, 2011