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B. Discussion of Applicable Law
The TMP is the central figure of partnership proceedings and
his status is of critical importance to the proper functioning of
the partnership audit and litigation procedures of secs. 6221-
6233. Phillips v. Commissioner, 114 T.C. at 120-121; Computer
Programs Lambda, Ltd. v. Commissioner, 89 T.C. 198, 205 (1987).
Generally, there is a 3-year period of limitations on the
assessment of a tax attributable to any partnership item. Sec.
6229(a). And, generally, the issuance of an FPAA will suspend
the period of limitations, e.g., sec. 6229(d). The TMP (or any
other person authorized by the partnership in writing to enter
into such an agreement), however, may extend the period of
limitations on assessment with respect to all partners in a
partnership by entering into an extension agreement with the IRS
before the expiration of the limitation period. Sec.
6229(b)(1)(B).18
A TMP is generally designated at the time the partnership
return is filed. See sec. 301.6231(a)(7)-1T(c), Temporary
Proced. & Admin. Regs, 52 Fed. Reg. 6791 (Mar. 5, 1987).19 The
18 The period of limitations for a specific partner may
also be extended by an agreement between the IRS and that
partner. See sec. 6229(b)(1)(A).
19 Temporary regulations under sec. 6231 concerning the
designation, selection and termination of a TMP were issued in
1984 and 1987, and generally applied to all partnership taxable
years beginning after Sept. 3, 1982. Virtually identical
provisions are made by the final regulation sec. 301.6231(a)(7)-
(continued...)
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