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Exhibit BB, which was certified as true and to which
respondent's witness credibly testified, shows an assessment
against Jaussaud Enterprises for the year ended February 28, 1991.
We find the information in the document accurately reflects the
existence of a tax liability owed by Jaussaud Enterprises.
Accordingly, we overrule petitioner's objection to the admission of
Exhibit BB. Further, respondent's failure to issue a notice of
deficiency against Jaussaud Enterprises is immaterial. A notice of
deficiency need not be issued in order for the Commissioner to
assess a taxpayer for a reported tax liability on a tax return.
See sec. 6201(a)(1). Moreover, the Commissioner is not required to
issue a notice of deficiency or to make an assessment against the
transferor where efforts to collect delinquent taxes from a
transferor would be futile. Gumm v. Commissioner, 93 T.C. 475, 484
(1989), affd. without published opinion 933 F.2d 1014 (9th Cir.
1991), and cases cited therein; see also O'Neal v. Commissioner,
102 T.C. 666, 675-676 (1994). In this regard, respondent presented
two witnesses, both IRS revenue officers, who credibly testified as
to their searches for assets owned by the corporation and their
inability to find any such assets or any evidence of the
corporation's capacity to pay the taxes owed. Consequently,
whether an audit deficiency (or tax return) assessment was made
against Jaussaud Enterprises is not relevant. Jaussaud
Enterprises' income tax return for the year ended February 28,
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