Eric B. Benson, et al. - Page 2

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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              

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