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2. Whether Petitioner Is Entitled to Abatement of Interest
as a Result of (a) Respondent’s Levy on Petitioner’s
Keogh Account; (b) Respondent’s Initial Crediting of
the Levied Funds to 1985; or (c) Petitioner’s Agreement
To Extend the Time To Assess Tax
Petitioner seeks abatement of interest related to his 1989
tax year on the grounds that respondent allegedly improperly
levied his Keogh account, and applied the funds levied from his
Keogh account to his 1985 year before posting them to his 1989
year. We disagree. Respondent’s levy resulted in collection of
tax, which reduced the amount of interest that would otherwise
have accrued. No interest accrued because of the levy.
Respondent credited the levied funds to petitioner’s 1985 tax
year on October 13, 1993, but subtracted the levied amount and
credited those funds to petitioner’s 1989 tax year, also on
October 13, 1993. No additional interest accrued for 1989 as a
result of crediting the levied funds to petitioner’s 1985 tax
year.
On October 15, 1998, at respondent’s request, petitioner
signed a tax collection waiver for assessments which extended to
December 31, 2000, the time to collect petitioner’s tax
liabilities assessed on December 19, 1988, for tax year 1987, and
on November 19, 1990, for tax year 1989. However, no additional
interest accrued for 1989 as a result of petitioner’s signing the
tax collection waiver.
5(...continued)
(2) in a subsequent refund case in a refund forum.
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