- 5 -
v. Commissioner, 198 F.3d 515 (1999). The Court of Appeals held
that we had improperly considered the post-death settlement of
Exxon’s claim against the estate. See id. at 526. The Court of
Appeals provided instructions regarding what evidence should be
considered for purposes of ascertaining the date-of-death value
of the claim against the estate but made no finding as to the
correct amount of the claim for purposes of deduction under
section 2053(a)(3) and did not preclude the possibility that the
correct amount of the deficiency might be the same as that
determined in our original decision. See id.
Discussion
The issue for decision is whether the “amount of the
deficiency” previously determined by this Court was “disallowed
in whole or in part by the court of review” within the meaning of
section 7486. Petitioner argues that the amount of the
deficiency in our prior decision was disallowed when that
decision was reversed, vacated, and remanded. We disagree.
Section 7486 provides:
SEC. 7486. In cases where assessment or collection has
not been stayed by the filing of a bond, then if the amount
of the deficiency determined by the Tax Court is disallowed
in whole or in part by the court of review, the amount so
disallowed shall be credited or refunded to the taxpayer,
without the making of claim therefor, or, if collection has
not been made, shall be abated.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 Next
Last modified: May 25, 2011