- 8 -
In conclusion, we hold that respondent’s action in crediting
the 1997 overpayment against the 1988 liability was fully
consistent with the offer in compromise, as well as with
operative provisions of statutory law. See Terry v.
Commissioner, 91 T.C. 85, 87 (1988) (after applying an
overpayment to a taxpayer’s liability for another taxable year,
the Commissioner is not precluded from subsequently determining a
deficiency for the taxable year in respect of which the
overpayment was originally claimed and allowed); see also McKoin
v. Commissioner, T.C. Memo. 2001-62. In so holding, we are
mindful of section 6512(b)(4), which serves to deny jurisdiction
to the Court "to restrain or review any credit or reduction made
by the Secretary under section 6402." Savage v. Commissioner,
112 T.C. 46, 49 (1999).
We have carefully considered remaining arguments made by
petitioner for a result contrary to that expressed herein, and,
to the extent not discussed above, we consider those arguments to
be without merit.7
7 We specifically note that the absence of any reference to
the $694 credit on certain IRS mailings that petitioner received
in May and June 1998 does not mean that respondent never credited
petitioner with the 1997 overpayment. Transcripts of account for
the relevant years clearly demonstrate that respondent credited
the 1997 overpayment to the 1988 liability.
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