Curr-Spec Partners, LP, Curr-Spec Managers, LLC, Tax Matters Partner - Page 6




                                        - 6 -                                         
          deduction, or credit).  Id.  Section 6229(a) provides, however,             
          that the period for assessing tax attributable to partnership               
          items 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.                          
               In Rhone-Poulenc Surfactants & Specialties, L.P. v.                    
          Commissioner, supra, we addressed the interaction of sections               
          6229 and 6501.  We rejected the taxpayer’s argument that section            
          6229 provides an assessment period that is independent of the               
          period described in section 6501.  We held that sections 6229 and           
          6501 provide alternative periods within which to assess tax with            
          respect to partnership items, with the later-expiring period                
          governing in a particular case.  Id. at 540-541.  We also held              
          that the issuance of an FPAA suspends the period to assess tax              
          under section 6501.  Id. at 552-553.  We followed this holding in           
          Andantech L.L.C. v. Commissioner, T.C. Memo. 2002-97, affd. in              
          relevant part and remanded in part 331 F.3d 972 (D.C. Cir. 2003).           
               The instant case presents a slightly different issue from              
          Rhone-Poulenc and Andantech, however, because respondent issued             
          the FPAA for the taxable year 1999 while conceding that the                 
          assessment period for that year had expired.  Respondent instead            
          seeks to assess tax for the taxable years 2000 and 2001 that is             
          attributable to a 1999 partnership item.  We recently addressed a           







Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  Next 

Last modified: November 10, 2007