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partnership items. Section 6229(a)--the key section in this
case--does refer to the partnership’s taxable year, but only in
reference to assessment of tax and not to adjustment of partner-
ship items. Congress knows how to limit the Commissioner’s time
to adjust partnership items and not just his time to assess tax.
Look at section 6248(a), governing partnerships much larger than
Kligfeld’s. It says:
SEC. 6248(a) General Rule.--Except as otherwise
provided in this section, no adjustment under this
subpart to any partnership item for any partnership
taxable year may be made after the date which is 3
years after the later of * * * [the filing date or due
date] for such year * * *.
Unlike section 6248(a), section 6229(a) does not set a maximum
time limit to make adjustments. Since section 6229(a) modifies
section 6501, and section 6501 sets a three-year general
limitation period for assessments, we read the difference in
language between the two TEFRA provisions to indicate that
Congress anticipated that the taxable year in which an assessment
is made would not always be the same as the taxable year in which
the adjustments are made.
Kligfeld’s final textual argument points us toward three
additional TEFRA provisions that, he claims, imply that TEFRA
itself requires a matching of partnership and partner taxable
years:
• Section 6231(a)(7)(B)--general partner with
the largest interest “at the close of the
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Last modified: November 10, 2007