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Background
In 1994, respondent issued a notice of deficiency
determining an estate tax deficiency of $663,785 and an accuracy-
related penalty under section 6662(a) of $132,785. The estate
filed its petition with this Court seeking redetermination of the
deficiency. In March 1998, after our first opinion and decision
that there was a deficiency of $564,429.87, the estate paid
$646,325.76 with respect to its estate tax. Our first decision
was appealed and never became final. After many years of
litigation,2 we entered a decision on January 24, 2002, that is
now final. In our decision, we determined that the estate was
due an “overpayment in estate tax in the amount of $238,847.24,
which amount was paid after the mailing of the notice of
deficiency”.
Pertinent Dates and Information
Decedent died on November 16, 1990. The estate filed the
estate tax return on July 12, 1991, and included with it a
payment of $60,164.54, which was the tax liability reported on
the return. On March 31, 1998, after our initial decision that
there was a deficiency in the amount of $564,429.87, the estate
2See Estate of Smith v. Commissioner, 108 T.C. 412 (1997);
Estate of Smith v. Commissioner, 110 T.C. 12 (1998); Estate of
Smith v. Commissioner, 198 F.3d 515, 526 (5th Cir. 1999); Estate
of Smith v. Commissioner, 115 T.C. 342, 348-49 (2000); Estate of
Smith v. Commissioner, T.C. Memo. 2001-303; Estate of Smith v.
Commissioner, 54 Fed. Appx. 413 (5th Cir. 2002).
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