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provision it may be open for the 1987 tax year. When he signed
the Form 872, petitioner was represented by an attorney who also
signed the form. Subsequently, on or about June 1, 1994, and
August 2, 1995, the parties executed Forms 872 to extend the 1987
assessment period to December 31, 1995, and December 31, 1996,
respectively. The notice of deficiency was mailed on April 16,
1996.
OPINION
1987--Period for Assessment
As a preliminary matter, we consider petitioner’s contention
that the 1987 assessment period had expired before respondent
mailed the notice of deficiency. There was in excess of a 25-
percent omission of gross income on petitioner’s 1987 tax return,
and the 6-year period for assessment is applicable. See sec.
6501(e)(1). Petitioner executed a Form 872 in January 1994,
before the 6-year assessment period expired. Petitioner contends
that the Form 872 is invalid or without effect because it did not
specify that the 6-year assessment period was applicable.
Accordingly, petitioner argues that the assessment period expired
before the notice of deficiency was mailed.
An agreement to extend the assessment period must be
executed before the expiration of the applicable statutory period
for assessment or the period agreed upon by the taxpayer and the
Secretary in a prior agreement. Sec. 6501(c)(4). There is no
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