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whether the authorized recipient common parent corporation is the
common parent for the year in which the NOL arose or for the
prior consolidated taxable year to which the NOL is carried.8
Accordingly, we must decide which common parent (petitioner
or Acme) is authorized under section 1.1502-78(b)(1), Income Tax
Regs., to receive the tentative refunds. Absent clear direction
from section 1.1502-78, Income Tax Regs., we look elsewhere in
the consolidated return regulations for guidance to identify the
entity that is the authorized recipient of the tentative refunds.
A central feature of the consolidated return regulations is
the role of the common parent as the exclusive agent for the
consolidated group with respect to all procedural matters. See
Southern Pac. Co. v. Commissioner, 84 T.C. 395, 401 (1985); sec.
1.1502-77(a), Income Tax Regs. In delineating the scope of the
common parent's agency, the regulations specifically provide that
the common parent shall act as agent for all the affiliates for
such purposes as receiving deficiency notices, executing waivers,
filing refund claims, and receiving refunds. Southern Pac. Co.
v. Commissioner, supra; sec. 1.1502-77(a), Income Tax Regs.
8 Additionally, we note that the examples set forth in sec.
1.1502-78(c), Income Tax Regs., provide no instruction as to
where payment should be directed when the common parent in the
loss year is different than the common parent in the carryback
year. The common parent in sec. 1.1502-78(c) Examples (1) to
(3), Income Tax Regs., is the same in both the loss year and in
the carryback year. Consequently, there is no question in the
examples as to where payment should be directed. Sec. 1.1502-
78(c) Example (4), Income Tax Regs., is inapposite because it
involves a consolidated net operating loss carryback to a
separate return year rather than to a consolidated return year.
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