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identified Mr. Manley as the TMP. On June 20, 1996, and on May
29, 1997, Mr. Manley executed a Form 872-P, Consent to Extend the
Time to Assess Tax Attributable to Items of a Partnership,
relating to Finley, Kumble’s 1992 taxable year. The June 20,
1996, form extended the time for assessment from September 21,
1996, to December 31, 1997, while the May 29, 1997, form extended
the assessment time to December 31, 1998.
On August 10, 1998, respondent issued a Notice of Final
Partnership Administrative Adjustment (FPAA) relating to
cancellation of debt income received by Finley, Kumble in 1992.
Neither Mr. Manley, nor any of the notice partners, filed a
petition challenging the FPAA. Mr. Overstreet did not receive
notice of the partnership examination, the FPAA, or Mr. Manley’s
appointment as the TMP. On January 6, 2000, respondent issued
and sent, by certified mail, an affected items notice of
deficiency to petitioners, relating to Finley, Kumble’s
cancellation of indebtedness income.
Discussion
Petitioners contend that the limitations period for issuance
of the FPAA was not properly extended, and, therefore, the notice
of deficiency was time-barred. Respondent contends the Court
does not have jurisdiction over whether the issuance of the FPAA
was timely because this case is not a partnership proceeding. We
agree with respondent.
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