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Tax year ending: 12-31-80
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Date Amount
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REVISED LIABILITY xxxxxxxx $95,203.00
Assessment - tax per return xxxxxxxx 5,793.00
Additional assessment
Abatement
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TOTAL ASSESSMENT xxxxxxxx 5,793.00
INCREASE/(DECREASE) In ASSESSMENT xxxxxxxx 89,410.00
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Revised liability xxxxxxxx 95,203.00
Payments
Credit applied from 1979 year 04-15-80 3,609.10
Estimated tax payment 09-22-80 922.00
Estimated tax payment 01-21-81 2,000.00
Subsequent payment 12-31-86 89,410.00
Subsequent payment 03-09-98 30,000.00
Less refunds or credits:
Overpayment credit elect 04-15-81 (738.00)
Transferred to 1981
Credit transferred to 1989 112-31-86 (30,561.18)
Credit transferred to 1984 112-31-86 (236.14)
Credit transferred to 1978 112-31-86 (1,800.01)
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TOTAL PAYMENTS xxxxxxxx 92,605.77
BALANCE DUE/(OVERPAYMENT) xxxxxxxx 2,597.23
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1These credits were actually transferred on July 13,
1992.
Thus, petitioner's entitlement to an overpayment for the
taxable year 1980 hinges upon whether the IRS had the authority
to reallocate petitioner's voluntary tax payment of $89,410,
which petitioner claims was designated for the taxable year 1980.
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Last modified: May 25, 2011