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above, and that, because neither party had terminated the
consent, the notice of deficiency was timely issued.
OPINION
Section 6501(a) generally requires that a deficiency in
income tax be assessed within 3 years after a return is filed.
However, under section 6501(c)(4), the parties may extend by
agreement the 3-year period of limitations for assessment,
"Where, before the expiration of the time prescribed * * * for
the assessment * * * both the Secretary and the taxpayer have
consented in writing to its assessment after such time".
IRA contends that the period of limitations under section
6501 expired prior to the time the notice of deficiency for 1980
was issued. It maintains that the period of limitations had
expired on November 20, 1984, that the Form 872-A extending the
period of limitations was executed after the period of
limitations had run, and, therefore, the Form 872-A was of no
effect. Respondent contends otherwise.
We agree with respondent. The question is whether, under
section 6501(c)(4), the parties extended the agreement "before
the time prescribed (for assessment)" had expired.
The tax return for 1980, which was due on September 15,
1981, was mailed by ordinary mail, bearing a U.S. Postal Service
postmark of November 20, 1981. The return was received by the
IRS on either November 21 or November 24, 1981. The IRS Form
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