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find that they are liable for the additions to tax and penalties
for fraud, then we must decide issues regarding petitioner
Terrell Equipment Co., Inc.’s (TECO), liability for deficiencies
for its taxable years ended September 30, 1987 (TY 1987),
September 30, 1988 (TY 1988), September 30, 1989 (TY 1989), and
petitioners Vernon W. Griffin (Vernon) and Janet M. Griffin’s
(Janet) liability for deficiencies for 1987, 1988, and 1989.4
FINDINGS OF FACT
Some of the facts have been stipulated and are so found.
The stipulation of facts, the supplemental stipulation of facts,
and the attached exhibits are incorporated herein by this
3(...continued)
(B), is applicable to returns the due date for which (determined
without regard to extensions) is after Dec. 31, 1988. Technical
and Miscellaneous Revenue Act of 1988, Pub. L. 100-647, sec.
1015(b)(2)(B), (b)(4), 102 Stat. 3342, 3569. Sec. 6663, the
successor to sec. 6653(b)(1), is applicable to returns the due
date for which (determined without regard to extensions) is after
Dec. 31, 1989. Omnibus Budget Reconciliation Act of 1989, Pub.
L. 101-239, sec. 7721(a), (c), (d), 103 Stat. 2106, 2395-2400.
Sec. 6072(b) provides that a return of a corporation made on
the basis of a fiscal year shall be filed on or before the 15th
day of the third month following the close of the fiscal year.
TECO’s 1988 and 1989 fiscal years ended on Sept. 30, 1988, and
Sept. 30, 1989, respectively.
Accordingly, TECO’s 1988 and 1989 fiscal year returns were
due on Dec. 15, 1988, and Dec. 15, 1989, respectively.
Therefore, in TECO’s notice of deficiency, respondent mistakenly
referenced sec. 6653(b)(1) instead of sec. 6653(b)(1)(A) for
TECO’s 1988 fiscal year and sec. 6663 instead of sec. 6653(b)(1)
for TECO’s 1989 fiscal year.
4 Respondent concedes that if we do not find fraud the
periods of limitations on assessment have expired.
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