Larry J. and Patricia A. Sumrall - Page 11

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               An individual makes application for a tentative carryback              
          adjustment by filing Form 1045, Application for Tentative Refund            
          (Form 1045).  Sec. 1.6411-1(b)(1), Income Tax Regs.  As pertinent           
          to this case, section 6411(a) provides that an application for a            
          tentative carryback adjustment does not constitute a claim for              
               Section 6511(d)(2) provides the applicable period of                   
          limitations to file a claim for refund of the overpayment                   
          attributable to a NOL carryback.  As pertinent to the facts                 
          before us, such period ends 3 years after the due date (including           
          extensions) for filing the return for the taxable year (here,               
          1992) of the NOL.  See sec. 6511(d)(2)(A).1                                 
          III.  Discussion                                                            
               A.  Introduction                                                       
               Petitioners requested, and were granted, an extension of               
          time to file their Federal income tax return for 1992 until                 
          October 15, 1993.  Because of such extension, they had until                
          October 15, 1996, to file claims for refunds attributable to NOL            
          carrybacks from 1992 to 1989 and 1990.  Petitioners did not                 

               1  Petitioners acknowledge that the time has passed for                
          them to avail themselves of a tentative carryback adjustment.               
          Application for such adjustment must be made on or after the date           
          of filing the tax return for the year of the NOL but no later               
          than 12 months from the end of such year.  Sec. 6411(a); sec.               
          1.6411-1(c), Income Tax Regs.  The 1992 Form 1040, with the                 
          Form 1045 page 2 attached, was filed on Oct. 7, 1996, well past             
          the end of 1992.                                                            

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