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Section references are to the Internal Revenue Code as
amended. Rule references are to the Tax Court Rules of Practice
and Procedure.
Background
Mary K. Wetherington (decedent) died on April 8, 1990. Her
estate consisted almost exclusively of agricultural real property
in Hillsborough County, Florida. Petitioner filed decedent's
estate tax return on September 9, 1991. Petitioner paid Federal
estate tax of $61,000 on April 2, 1991, and $97,793.77 on August
18, 1992.
On March 3, 1995, petitioner sold part of decedent's real
property. Petitioner paid estate taxes of $498,321.93 on March
6, 1995.
Under section 6161(a)(1), the Secretary may extend the time
in which a taxpayer must pay estate tax for up to 12 months.
Under section 6161(a)(2), the Secretary may grant an extension,
for reasonable cause, up to 10 years from the due date of the
return.
Respondent extended the time for petitioner to pay estate
tax under section 6161(a) for 1 year, and possibly for a second
year, because petitioner's assets were not liquid, and petitioner
could not pay the balance due. Petitioner applied for a further
extension under section 6161(a), which is pending as of December
18, 1996.
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Last modified: May 25, 2011