- 16 - of information is not reasonable cause for failing to file a timely return. See Crocker v. Commissioner, 92 T.C. 899, 913 (1989); Elec. & Neon, Inc. v. Commissioner, 56 T.C. 1324, 1342- 1344 (1971), affd. without published opinion 496 F.2d 876 (5th Cir. 1974); Cook v. Commissioner, T.C. Memo. 1999-50; Barber v. Commissioner, T.C. Memo. 1997-206. Unless a taxpayer applies for and obtains a timely extension of time to file, a taxpayer is expected to file a timely return based on the best information available and then file an amended return if necessary. See Estate of Vriniotis v. Commissioner, 79 T.C. 298, 311 (1982); Cook v. Commissioner, supra; Barber v. Commissioner, supra. Moreover, pending litigation, even if the outcome affects the estate's final tax liability, is not reasonable cause for failing to file an estate tax return timely. Estate of Mayer v. Commissioner, 351 F.2d 617 (2d Cir. 1965), affg. 43 T.C. 403 (1964); Estate of Duttenhofer v. Commissioner, 49 T.C. 200 (1967), affd. per curiam 410 F.2d 302 (6th Cir. 1969); Estate of Pridmore v. Commissioner, T.C. Memo. 1961-12; Sever v. Commissioner, T.C. Memo. 1954-63. In fact, this Court has previously held that pending litigation affecting the fair market value of a decedent's interest in property at the time of death was not reasonable cause for untimely filing. Porter v. Commissioner, 49 T.C. 207, 226-227 (1967). In Porter, the Court held that the executor should have filed a timely estate taxPage: Previous 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 Next
Last modified: May 25, 2011