Richard K. and Marilyn J. Phillips - Page 31




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          filing of the underlying 1989 tax return.  However, since we have           
          held that Mr. Hoyt was the valid TMP of the Hoyt partnerships for           
          the years in issue, and since petitioners concede that Mr. Hoyt             
          signed an extension agreement for TBS J.V.’s 1989 taxable year,             
          even if a 1989 return had been filed, the period of limitations             
          for the 1989 taxable year would not have expired before April 17,           
          1995.                                                                       
               Upon the basis of the record, we find that TBS J.V. failed             
          to file partnership returns for both the 1989 and 1990 taxable              
          years and hold that the period of limitations for TBS J.V.’s 1989           
          and 1990 taxable years did not expire before April 17, 1995.                
          9.  Conclusion                                                              
               The parties have stipulated that if this Court finds that              
          the respective periods of limitations had not expired before the            
          mailing of the FPAA's, then the FPAA's were timely and properly             
          sent to the TMP of the Hoyt Partnerships for each of the                    
          partnership years in issue.                                                 
               Upon the basis of the record, we find that Mr. Hoyt was the            
          TMP when he executed extension agreements with respect to the               
          years in issue and, therefore, hold that the periods of                     
          limitations with respect to years in issue had not expired                  
          pursuant to section 6229(b)(1)(B) as of April 17, 1995.                     
               Because we find that Mr. Hoyt was TMP of the Hoyt                      
          partnerships when he executed extension agreements for the years            
          in issue, we need not, and do not, address other issues raised by           
          the parties.                                                                




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