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Petitioner did not file a 1999 Federal income tax return.
His taxable income for that year totaled $874, all from interest
earned on his savings accounts. The payors of that interest
notified respondent that they had paid this interest to
petitioner as income and that they had withheld $270 of it as
Federal income tax. Respondent was also notified by a brokerage
firm that petitioner had during 1999 received $212,029 from
brokerage sales.
Respondent determined in the relevant notice of deficiency
mailed to petitioner on February 27, 2003, that petitioner’s 1999
gross income included both the $212,029 and the $874. Respondent
has since conceded that none of the $212,029 was so includable
and that petitioner has overpaid his 1999 Federal income tax by
the withheld amount of $270.
OPINION
Petitioner seeks the $270 that he overpaid for 1999.
Respondent argues that petitioner is not entitled to that amount
because, respondent states, none of it was paid within the 2-year
period of section 6511(a).
We conclude that petitioner is entitled to the $270
overpayment. Section 6512(b)(1) empowers this Court to determine
the existence and amount of any overpayment of tax to be refunded
for a year before us. Under section 6512(b)(3)(B), however, we
may not award a refund in a case such as this unless we determine
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Last modified: May 25, 2011