Estate of Emanuel Trompeter, Deceased, Robin Carol Trompeter Gonzalez and Janet Ilene Trompeter Polacheck, Co-Executors - Page 6

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          T.C. Memo. 1990-30; Willingham v. United States, 289 F.2d 283,              
          287-288 (5th Cir. 1961); Simon v. Commissioner, 248 F.2d 869, 877           
          (8th Cir. 1957), affg. on this issue and revg. and remanding                
          U.S. Packing Co. v. Commissioner, T.C. Memo. 1955-194; Nick v.              
          Dunlap, 185 F.2d 674 (5th Cir. 1950); Rictor v. Commissioner,               
          26 T.C. 913, 914-915 (1956); Auerbach Shoe Co. v. Commissioner,             
          21 T.C. 191, 196 (1953), affd. 216 F.2d 693 (1st Cir. 1954);                
          Blanton Coal Co. v. Commissioner, T.C. Memo. 1984-397; Pusser               
          v. Commissioner, a Memorandum Opinion of this Court dated                   
          Dec. 7, 1951, affd. per curiam 206 F.2d 68 (4th Cir. 1953);                 
          see also United States v. Keltner, 675 F.2d 602, 605 (4th Cir.              
          1982).  Respondent's reliance on this line of cases for a similar           
          result here, however, is misplaced.  The ability to carry back an           
          NOL depends on the happenings in a taxable year after the taxable           
          year in which the underpayment is due to fraud, and the                     
          subsequent year may be as far away as 3 years after the year of             
          the fraudulent underpayment.  The principle of C.V.L. Corp. v.              
          Commissioner, supra, reflects the fact that each taxable year is            
          a separate year for income tax purposes, and that a taxpayer may            
          not reduce his or her liability for fraudulent conduct in one               
          year by virtue of unforeseen or fortuitous circumstances that               
          happen to occur in a later year.  See Paccon, Inc. v.                       
          Commissioner, 45 T.C. 392 (1966).                                           
               In the case of the Federal estate tax, however, the same               
          rationale does not apply.  The Federal estate tax is not                    



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