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in the FPAA,2 but disagree as to whether the FPAA was timely.
In general, the period for assessing any income tax
attributable to any partnership item (or affected item) for a
partnership taxable year will not expire before the date which
is 3 years after the later of: (1) The date on which the
partnership files its information return for the taxable year in
question, or (2) the last day for filing such return for such
year (without extensions). See sec. 6229(a). The period may be
extended if the partnership’s TMP, “or any other person
authorized by the partnership in writing to enter into such an
agreement”, enters into a timely extension agreement with the
Internal Revenue Service. Sec. 6229(b)(1)(B).
In this case, Madison’s 1982 information return was filed on
March 14, 1983. With respect to that return, the 3-year period
for “assessing any * * * [income tax] with respect to any person
which is attributable to any partnership item (or affected item)”
expired on April 15, 1986. Sec. 6229(a); see sec. 1.6031-
1(e)(2), Income Tax Regs. Taken in sequence, the two Forms 872-P
(the consents) signed by Jacobson, as attorney-in-fact for
Roberts, extended until December 31, 1987, the period of
limitations for making assessments attributable to Madison’s 1982
2 The adjustments in this case arise from transactions
similar to those discussed in Provizer v. Commissioner, T.C.
Memo. 1992-177, affd. without published opinion 996 F.2d 1216
(6th Cir. 1993).
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