Michael Sklar and Marla Sklar - Page 4




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          extended by 60 days.  Petitioners point out that the second                 
          consent extended the assessment period until October 31, 2000.              
          Petitioners believe that the 60-day language is a tack-on period            
          that resulted in the period for assessment ending December 31,              
          2000, which was a Sunday followed by a holiday, so the period for           
          assessment ended January 2, 2001.  Following that line of                   
          reasoning, petitioners note that respondent’s answer was filed              
          after January 2, 2001, the date petitioners believe the                     
          assessment period ended.  Based upon the above, petitioners argue           
          that no further determinations are permissible.                             
               Petitioners have misinterpreted the language on the consent            
          form.  The specific language is as follows:                                 
                    (1) The amount(s) of any Federal Income tax due on                
               any return(s) made by or for the above taxpayer(s) for                 
               the period(s) ended 1995 may be assessed at any time on                
               or before October 31, 2000.  However, if a notice of                   
               deficiency in tax for any such period(s) is sent to the                
               taxpayer(s) on or before that date, then the time for                  
               assessing the tax will be further extended by the                      
               number of days the assessment was previously                           
               prohibited, plus 60 days.                                              
          That language provides for the extension of the assessment period           
          to a date certain, unless respondent issues a notice of                     
          deficiency.  Then, an additional number of days is added,                   
          including the 60-day period relied on by petitioners.2                      


               2 We find it curious that petitioners’ argument that the               
          period for assessment and, therefore, adjustments to income                 
          expired seems to apply only to adjustments that adversely affect            
          petitioners’ tax liability.  Apparently, petitioners’ position              
          only applies where it negatively affects their tax status.                  





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