- 7 -
“return” does not include a return of a person, such as a
partnership, from whom the taxpayer (i.e., a partner) has
received an item of income, gain, loss, deduction, or credit.
Id. In the case of a tax imposed on partnership items, section
6229 sets forth special rules to extend the period of limitations
prescribed by section 6501 with respect to partnership items or
affected items. See sec. 6501(n)(2); Rhone-Poulenc Surfactants &
Specialties, L.P. v. Commissioner, 114 T.C. 533, 540-543 (2000).
Section 6229 provides in pertinent part:
SEC. 6229. PERIOD OF LIMITATIONS FOR MAKING
ASSESSMENTS.
(a) General Rule.–-Except as otherwise provided in
this section, the period for assessing any tax imposed
by subtitle A with respect to any person which is
attributable to any partnership item (or affected item)
for a partnership taxable year shall not expire before
the date which is 3 years after the later of--
(1) the date on which the partnership return
for such taxable year was filed, or
(2) the last day for filing such return for
such year (determined without regard to
extensions).
* * * * * * *
(c) Special Rule in Case of Fraud, Etc.--
* * * * * * *
(2) Substantial omission of income.–-If any
partnership omits from gross income an amount
properly includible therein which is in excess of
25 percent of the amount of gross income stated in
its return, subsection (a) shall be applied by
substituting “6 years” for “3 years”.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Next
Last modified: November 10, 2007