Winn-Dixie Stores, Inc. and Subsidiaries - Page 1

                                   110 T.C. No. 23                                    

                               UNITED STATES TAX COURT                                

               WINN-DIXIE STORES, INC. AND SUBSIDIARIES, Petitioner v.                
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      

               Docket Nos.  26236-95, 27027-96,       Filed April 27, 1998.           

                    R determined deficiencies in P's taxable years                    
               1988 through 1993.  P agreed in part with R's                          
               determinations for 1988 through 1991 and entered into                  
               an agreement with R regarding the uncontested amounts.                 
               R also determined overpayments of tax for 1984 and                     
               1987, which are not before the Court.  R refunded the                  
               1984 and 1987 overpayments plus interest.  P claims                    
               that R should have honored P's request to credit the                   
               overpayments for 1984 and 1987 against the agreed                      
               underpayments for 1988 through 1991 pursuant to R's                    
               authority to offset under sec. 6402(a), I.R.C.                         
               Interest on underpayments is computed at a higher rate                 
               than interest on overpayments.  However, when R                        
               exercises his authority under sec. 6402(a), I.R.C.,                    
               sec. 6601(f), I.R.C., provides that there shall be no                  
               interest due for the period of mutual indebtedness.                    
               Had R used the overpayments to offset the agreed                       
               underpayments, P's liability attributable to the agreed                
               underpayments would have been substantially less.  P                   

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