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Ps moved for judgment on the pleadings on the
ground that the period of limitations for assessing any
tax resulting from this partnership proceeding has
expired pursuant to secs. 6229(a) and 6501(a), I.R.C.
R contends the period of limitations for assessment has
not expired under sec. 6501(a), I.R.C., for 2002-04 and
he may assess taxes attributable to the adjustment of
partnership items for 2000 against the partners for
2002-04.
Held: Secs. 6229(a) and 6501(a), I.R.C., do not
preclude R from issuing the FPAA and adjusting
partnership items for 2000.
Held: Secs. 6229(a) and 6501(a), I.R.C., do not
preclude R from assessing against the partners an
income tax liability for the 2002-04 tax years
attributable to the carryforward by the partners of
their distributive shares of partnership losses for
2000 where the partnership item adjustments relate to
transactions completed and reported on G-5’s
partnership return in 2000.
Denis J. Conlon and Steven S. Brown, for petitioners.
William F. Castor, for respondent.
OPINION
HAINES, Judge: This case is a partnership-level action
based on a petition filed pursuant to section 6226.1 The sole
issue raised by petitioners’ motion for judgment on the pleadings
is whether the period of limitations for making assessments of
1 Unless otherwise indicated, all section references are to
the Internal Revenue Code (Code), as amended, and Rule references
are to the Tax Court Rules of Practice and Procedure.
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Last modified: November 10, 2007