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Issue 2. Whether the Period of Limitations on Assessment Had
Expired When the FPAAs Were Issued
The period for making assessments of tax attributable to a
partnership item or affected item is set forth in section 6229.
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).
(b) Extension by Agreement.--
(1) In general.--The period described in
subsection (a) (including an extension period
under this subsection) may be extended--
* * * * * * *
(B) with respect to all partners, by an
agreement entered into by the Secretary and
the tax matters partner (or any other person
authorized by the partnership in writing to
enter into such an agreement),
before the expiration of such period.
* * * * * * *
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Last modified: November 10, 2007