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SUPPLEMENTAL MEMORANDUM OPINION
RUWE, Judge: This case is before the Court on petitioners’
motion for reconsideration of findings and opinion. On November
29, 2004, we issued a Memorandum Opinion holding that the Bensons
received constructive dividends in 1989, 1990, 1993, and 1994.
Benson v. Commissioner, T.C. Memo. 2004-272. In that Memorandum
Opinion, we stated the detailed facts of this case, which we
incorporate herein by this reference.
Section 6501(a)2 generally bars the assessment of a
deficiency after 3 years from the date the return was filed.
Section 6501(e) provides for a 6-year period of limitations if
the taxpayer omits more than 25 percent of the gross income
stated in the return. In our prior opinion, we noted that the
parties agreed in their briefs that our opinion on the merits
would determine whether the section 6501(e) exception to the
period of limitations in section 6501(a) allows assessment of the
deficiencies for 1989, 1990, 1993, and 1994.
As we noted in our prior opinion, section 6501(e)(1)(A)(ii)
provides that in determining the amount omitted from gross
income, there shall not be taken into account any amount omitted
if such amount is disclosed in the return, or in a statement
2 Unless otherwise indicated, all section references are to
the Internal Revenue Code in effect for the years in issue, and
all Rule references are to the Tax Court Rules of Practice and
Procedure.
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Last modified: May 25, 2011