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T.C. 291, 295 (1998). Respondent issued notices of deficiency
containing determinations that petitioner is liable for
deficiencies in income tax for 1995 and 1996; petitioner filed a
timely petition with this Court contesting respondent’s
determinations. Accordingly, this Court has jurisdiction to
redetermine the amount of petitioner’s deficiencies for 1995 and
1996, and to determine whether petitioner has an overpayment for
either year.
Respondent argues that petitioner does not have an
overpayment for 1995 because the credit petitioner seeks for his
1994 overpayment was time-barred when petitioner first claimed
it. Petitioner argues that his 1994 overpayment must be taken
into account when determining whether he has an overpayment for
1995 because respondent accepted his 1994 return, claiming a
credit for such overpayment, as filed.
When a taxpayer’s payments, including allowable credits for
income taxes withheld from wages and the prior year’s
overpayment, exceed the total tax imposed for the year there is
an overpayment. Secs. 31(a), 35, 6401(b)(1), 6402(b); see also
Bachner v. Commissioner, 109 T.C. 125, 128 (1997) (interpreting
“overpayment” to mean any payment of tax in excess of that which
is properly due), affd. without published opinion 172 F.3d 859
(3d Cir. 1998). It follows that in order for this Court to find
an overpayment for petitioner’s 1995 tax year, we must find that
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