-8- balance sheet, statement of proposed activities, and description of anticipated receipts and contemplated expenditures. Sec. 601.201(n)(7)(i), Statement of Procedural Rules; see also Rev. Proc. 90-27, 1990-1 C.B. 514. Additionally, other procedural regulations mandate that an organization “fully describe the activities in which it expects to engage, including the standards, criteria, procedures, or other means adopted or planned for carrying out the activities; the anticipated sources of receipts; and the nature of contemplated expenditures.” Sec. 601.201(n)(1)(ii), Statement of Procedural Rules. The facts stipulated support a conclusion that petitioner has not exhausted its administrative remedies, and therefore, jurisdiction is not available. As elaborated on below, petitioner’s belated responses to respondent’s inquiries in the course of processing its application evince petitioner’s failure to “[complete] the normal progression through administrative channels,” B.H.W. Anesthesia Found. v. Commissioner, supra, at 682 n.2, or to “demonstrate that progress * * * [was] severely hampered due to causes beyond its control,” Prince Corp. v. Commissioner, 67 T.C. 318, 328 (1976) (finding failure to exhaust administrative remedies in the context of section 7476(b)(3), the counterpart to section 7428(b)(2) in the area of retirement plans).Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011