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Held: R has established by clear and convincing
evidence that C signed Form 872 with the intent to extend
the period of limitations for SF's taxable year ended June
30, 1993.
Held, further, Form 872 may be reformed to conform with
the intent of the parties. Woods v. Commissioner, 92 T.C.
776 (1989), applied.
Held, further, R's notice of deficiency is not barred
as untimely under the period of limitations on assessments
contained in sec. 6501(a), I.R.C.
Donald L. Feurzeig, for petitioner.
Laurel M. Robinson, for respondent.
MEMORANDUM OPINION
NIMS, Judge: This matter is before the Court on
petitioner's motion for partial summary judgment under Rule 121.
Unless otherwise indicated, all section references are to
sections of the Internal Revenue Code in effect for the years in
issue, and all Rule references are to the Tax Court Rules of
Practice and Procedure.
Respondent determined the following deficiencies and
accuracy-related penalties with respect to the Federal income tax
of petitioner San Francisco Wesco Polymers, Inc. (SFWP) for the
taxable years ending June 30, 1993 and June 30, 1994:
Penalties
Year Deficiency Sec. 6662(a)
June 30, 1993 $108,986 $6,150
June 30, 1994 21,797 1,230
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