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Section 6621(c) Interest
Respondent argues that the question whether the interest-
netting rule affects the computation of section 6621(c) interest
is not ripe for consideration in this deficiency proceeding.
Citing the principle that the Court generally lacks jurisdiction
in a deficiency proceeding to redetermine interest, respondent
argues that the parties have not computed the amount of statutory
interest due from petitioners, and thus the parties are unable to
compute the amount of increased interest due under section
6621(c). Respondent contends that the legal question of the
effect of section 6621(d) is a matter that may only be raised
within the context of a supplemental proceeding brought pursuant
to section 7481(c).3
3 Sec. 7481(c), enacted in the Technical and Miscellaneous
Revenue Act of 1988, Pub. L. 100-647, sec. 6246(a), 102 Stat.
3342, 3751, confers jurisdiction on the Court to resolve disputes
over respondent's postdecision computation of statutory interest.
See note to Rule 261, 93 T.C. 1040-1041 (1989). Sec. 7481(c)
provides in pertinent part:
SEC. 7481(c) Jurisdiction Over Interest
Determinations.--Notwithstanding subsection (a), if–
(1) an assessment has been made by the Secretary
under section 6215 which includes interest as
imposed by this title,
(2) the taxpayer has paid the entire amount of
the deficiency plus interest claimed by the Secretary,
and
(continued...)
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Last modified: May 25, 2011