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tax return and the date of settlement. This Court has
jurisdiction over matters involving interest only in limited
circumstances. Med James, Inc. v. Commissioner, 121 T.C. 147,
152 (2003). We may determine whether a taxpayer has made an
overpayment of interest or the Secretary has made an underpayment
of interest under section 7481(c)(1) and (2)(A) when: (1) A
motion to redetermine interest has been filed within 1 year after
the date the decision of the Tax Court becomes final under
section 7481(a); (2) the Secretary has made an assessment under
section 6215 that includes interest; and (3) the taxpayer has
paid the entire amount of the deficiency plus the entire amount
claimed by the Secretary as interest on the deficiency. Rule
261; sec. 7481(c)(1) and (2)(A); Med James, Inc. v. Commissioner,
supra at 152. We shall address these requirements in turn.
First, petitioner has not filed a timely motion for
redetermination under Rule 261; the Tax Court decision in this
case is not yet final. Secs. 7481(a), 7483; Kenner v.
Commissioner, 387 F.2d 689, 690 (7th Cir. 1968). Second, section
6601(g) allows respondent to assess interest at any time during
the period within which the tax to which the interest relates may
be collected. Nothing in the record indicates that the interest
in this case has been assessed for 1999. Lastly, petitioner has
not demonstrated that he paid any interest. Therefore, we do not
have jurisdiction to redetermine the interest on petitioner’s
1999 deficiency under section 7481(c).
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Last modified: May 25, 2011