- 2 -
to all partners; (2) sec. 6229(a), I.R.C., does not
preclude the applicability to specific partners of a
longer period of limitations such as the 6-year period
in sec. 6501(e)(1)(A), I.R.C.; (3) assuming there was
inadequate disclosure of P’s alleged omission of
income, the running of the 6-year period of limitation
was suspended when the FPAA was issued pursuant to sec.
6229(d), I.R.C.; and (4) the issue of adequate
disclosure of the allegedly omitted income presents
genuine issues of material fact. Summary judgment will
be denied.
Albert H. Turkus, Pamela F. Olson, William F. Nelson, and
Anne E. Collier, for petitioner.
John A. Guarnieri, Craig Connell, and Ruth M. Spadaro,for
respondent.
OPINION
RUWE, Judge: This case is a partnership-level action based
on a petition filed pursuant to section 6226.1 Section 6226 is
one of a group of provisions concerning the tax treatment of
partnership items that was added to the Code by the Tax Equity
and Fiscal Responsibility Act of 1982 (TEFRA), Pub. L. 97-248,
sec. 402(a), 96 Stat. 648 (TEFRA partnership provisions).2 The
1Unless otherwise indicated, all section references are to
the Internal Revenue Code in effect for the year in issue, and
all Rule references are to the Tax Court Rules of Practice and
Procedure.
2The TEFRA partnership provisions have been amended since
their enactment in 1982 and now constitute secs. 6221 through
6234.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011