-10- tax return and election is insufficient to establish that Petito corporation made a timely election. There is no documentary evidence reflecting that the purported 1986 corporate tax return or the purported election attached to the return was ever signed or mailed. Other than petitioner’s general statement that he executed the return and election and mailed the documents, the record is devoid of any specific identifiable event relating to a mailing of the tax return to the IRS. Compare, for example, Estate of Wood v. Commissioner, 92 T.C. 793 (1989), affd. 909 F.2d 1155 (8th Cir. 1990), where there was specific identifiable and independent evidence that a tax return was mailed to the IRS; Mitchell Offset Plate Serv., Inc. v. Commissioner, 53 T.C. 235 (1969), where the taxpayer presented specific credible evidence as to the timely filing of an election under S; and Zaretsky v. Commissioner, T.C. Memo. 1967-247, where the Court concluded, after hearing three witnesses, that the taxpayer mailed a valid election and consent to the IRS. In this case we do not accept petitioner’s unsupported self-serving testimony. See Niedringhaus v. Commissioner, 99 T.C. 202, 219-220 (1992). We note that the failure to check the box on Petito corporation’s 1992 return (indicating that the corporation is subject to the consolidated audit procedures of sections 6241 through 6245) is consistent with our conclusionPage: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011