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of petitioner for 1996 paid on or before April 15, 1997 (the date
prescribed for payment of his tax for that year) and the only
credit against the 1996 tax which may be claimed by petitioner in
his 1996 return are the prepayment withholding credits of $4,376
and the estimated tax payment credits in the amount of
$587,491.31. Pursuant to section 6651(b)(1), only those amounts
may reduce the amount of tax required to be shown in petitioner’s
1996 return for purposes of section 6651(a)(1).
Similarly, as applied here, for purposes of section
6651(a)(2), the amount of petitioner’s tax shown in petitioner’s
1996 return is to be reduced, for purposes of computing the
addition to tax under that section for any month, by the amount
of any part of the tax for 1996 which is paid on or before the
beginning of such month and by the total amount ($591,867.31) of
the prepayment credits against petitioner’s 1996 tax to which he
is entitled and which may be claimed in his return for that year.
We hold that, for purposes of calculating the additions to
tax under section 6651(a)(1) and (2), section 6651(b) does not
permit petitioner to apply his 1995 overpayment of $61,151 as a
credit against the tax required to be shown or shown, as the case
may be, in his 1996 return.5
As a third ground in support of his position that he should
5However, in computing the additions to tax under sec.
6651(a)(1) and (2), the limitations and special rule of sec.
6651(c) apply.
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