- 6 - determining a $29,311.50 deficiency in their 1980 Federal income tax and a $1,465.58 addition thereto under section 6653(a). The 1984 notice did not contain any adjustments related to Catamount and did not assert an addition to tax under section 6659 with respect to Catamount. Petitioners timely petitioned this Court to redetermine the determinations reflected in the 1984 notice, see Toan v. Commissioner, docket No. 26011-84 (Toans’ individual case), and the Court entered a stipulated decision in that case on December 9, 1988. The Toans’ individual case did not involve any adjustments related to Catamount, and it did not involve the addition to tax under section 6659 with respect to Catamount. Discussion Petitioners argue primarily that this Court’s decision in the Toans’ individual case bars respondent from assessing for 1980 any additional amount; e.g., the disputed addition to tax under section 6659 for that year. Petitioners assert that the addition to their 1980 tax under section 6659 was not a partnership item that was subject to the unified audit and litigation procedures of the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), Pub. L. 97-248, sec. 402(a), 96 Stat. 324, 648, but had to be determined in the Toans’ individual case. Alternatively, petitioners argue, any assessment under the 1980 notice is time barred under section 6501. Petitioners assert that the addition to tax under section 6659 was an affected itemPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 Next
Last modified: May 25, 2011