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issuance of the notice of deficiency did respondent or
petitioner, or anyone acting on petitioner's behalf, terminate
the Form 872-A agreements by mailing to or filing with the other
party a Form 872-T, Notice of Termination of Special Consent to
Extend the Time to Assess Tax.
Petitioner timely filed a petition to this Court for
redetermination of the deficiency, affirmatively pleading that
the periods of assessment of the taxes for 1980 and 1981 had
expired and alleging error in respondent's determinations that
disallowed the deductions related to his investment in the
limited partnership.3
Discussion
Petitioner asserts that the Form 872-A extension agreements
terminated by operation of law within a reasonable time after
execution, and, therefore, assessment of the taxes for 1980 and
1981 is barred by the statute of limitations.4 Respondent
3All items in the notice of deficiency have been resolved in
accordance with the Court's disposition of the issues in Krause
v. Commissioner, 99 T.C. 132 (1992), affd. sub nom. Hildebrand v.
Commissioner, 28 F.3d 1024 (10th Cir. 1994), the test case in the
Elektra/Hemisphere group of Tax Court cases. See also Acierno v.
Commissioner, T.C. Memo. 1997-441, affd. without published
opinion 185 F.3d 861 (3d Cir. 1999); Karlsson v. Commissioner,
T.C. Memo. 1997-432, and Vanderschraaf v. Commissioner, T.C.
Memo. 1997-306, affd. without published opinion 211 F.3d 1276
(9th Cir. 2000), which also involved tax shelter limited
partnerships and which resolved the issues in a manner consistent
with Krause v. Commissioner, supra.
4Specifically, petitioner contends that the Form 872-A
(continued...)
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