Gary Dean and Teri Colleen Madden - Page 4




                                        - 4 -                                         
                                     Discussion                                       
               Under section 6402(a), the Secretary, within the applicable            
          period of limitations, may credit any amount of an overpayment              
          against any liability attributable to an internal revenue tax               
          owed by the person who made the overpayment.  As discussed above,           
          respondent credited petitioners’ 2003 overpayment to petitioners’           
          outstanding tax liabilities for 1991 and 1992.  Petitioners would           
          have us recredit their 2003 overpayment towards their $1,779                
          deficiency for 2003 to cover the 10-percent additional tax                  
          resulting from the early withdrawal from their retirement                   
          account.  Petitioners offer no support for their argument that we           
          possess jurisdiction to recredit petitioners’ overpayment.                  
               We cannot recredit petitioners’ overpayment.  The Tax Court            
          is a court of limited jurisdiction and may exercise its                     
          jurisdiction only to the extent expressly authorized by Congress.           
          Naftel v. Commissioner, 85 T.C. 527 (1985).  Pursuant to section            
          6512(b)(4), we do not have jurisdiction to review any credit made           
          by the Commissioner under section 6402(a).  See Bocock v.                   
          Commissioner, 127 T.C. 178, 182 (2006); Savage v. Commissioner,             
          112 T.C. 46, 49-51 (1999).  Accordingly, we do not have                     
          jurisdiction to decide whether respondent properly credited                 
          petitioners’ 2003 overpayment to tax years 1991 and 1992.                   










Page:  Previous  1  2  3  4  5  Next 

Last modified: November 10, 2007