- 13 - The estate nevertheless contends that the assessments and lien described above were nullified by the Supreme Court’s opinion in Ballard v. Commissioner, 544 U.S. 40, 125 S. Ct. 1270 (2005), and this Court’s actions (1) vacating the decisions entered in the Kanter deficiency cases, (2) striking the Court’s Memorandum Opinion in Inv. Research Associates, Ltd. v. Commissioner, T.C. Memo. 1999-407, and (3) reinstating the Couvillion report. The estate asserts that “the case before the Court presents the seemingly unprecedented situation in which the entire legal basis for a lower court ruling has been disallowed because of an improper process and the ruling itself has been completely vacated.” Although the Kanter deficiency cases certainly are in a novel procedural posture, we are not persuaded that the factors that the estate relies upon require abatement of the assessments in question or release of the disputed liens. We agree with respondent that the proper disposition of the estate’s motion is governed by section 7486, which addresses assessment and collection of tax deficiencies that have not been stayed by the filing of an appeal bond. Section 7486 provides: SEC. 7486. REFUND, CREDIT, OR ABATEMENT OF AMOUNTS DISALLOWED. In cases where assessment or collection has not been stayed by the filing of a bond, then if the amount of the deficiency determined by the Tax Court is disallowed in whole or in part by the court of review, the amount so disallowed shall be credited or refunded to the taxpayer, without the making of a claimPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011