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therefore precluded respondent from assessing taxes once the
agreement set forth therein lapsed. Petitioners contend that
assessment of the liability found in DelVecchio v. Commissioner,
supra, was improper in that it was made after the period agreed
upon in the Form 872. Second, petitioners argue that respondent
made a nonjeopardy assessment in this case within the prohibited
90-day window following the notice of deficiency. Petitioners
conclude that this alleged improper prior assessment invalidates
all subsequent assessments.5
A. Form 872 Does Not Preclude Assessment
Petitioners argue that respondent is precluded from making
any assessments because all parties signed Form 872 and thereby
extended to December 31, 1992, the time to assess any Federal
income tax due for 1987 and 1988. Petitioners urge that Form 872
constitutes a written agreement with the Commissioner and that
respondent was bound to assess all taxes (including any fraud
penalty) before December 31, 1992. We disagree.
Form 872 is a unilateral waiver by the taxpayer of the
3-year period of limitations of section 6501(a). See, e.g.,
Stange v. United States, 282 U.S. 270, 276 (1931); Schulman v.
Commissioner, 93 T.C. 623, 639 (1989). Petitioners confuse the
5 Petitioners put forward other arguments, trying to assert
wrongdoing by respondent such as alteration of official
documents. We have considered all other arguments and have found
those not discussed to be meritless.
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