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should be directed to Energy, or that future Forms 872 should be
executed by Energy.
Discussion
Respondent contends that Energy should be estopped to deny
the validity of the last three Forms 872 signed by Lobliner and
Markowitz on behalf of New Petroleum, because Energy, through its
officers, agents or employees, intentionally deceived respondent
by failing to disclose New Petroleum's merger into Energy,
thereby causing respondent to withhold assessment in reliance
upon the consents. Energy asserts that it did not make any false
representations to, or maintain any misleading silences in
connection with, New Petroleum's merger into Energy.
Furthermore, Energy claims that when the last three Forms 872
were signed respondent not only knew of New Petroleum's merger,
but had a convenient means of acquiring such knowledge. Finally,
Energy contends that in preparing and executing the last three
Forms 872, respondent did not rely on any acts or statements made
by Energy's representatives, because respondent's agents prepared
the Forms 872 by looking only at prior Forms 872 and New
Petroleum's Federal income tax return for the year in issue.
Pursuant to section 6501(c)(4) a taxpayer and the Secretary
or his delegate, before the expiration of the period provided by
statute for assessment and collection of income tax, may consent
in writing to an extension of that period, and further extensions
may be made by subsequent written agreements entered into before
the expiration of the period previously agreed upon.
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