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statute of limitations

District Court – statute of limitations on collection extended by taxpayer bankruptcy, offer in compromise

District Court – statute of limitations on collection extended by taxpayer bankruptcy, offer in compromise

Fields, (DC NM 3/17/2016) 117 AFTR 2d ¶ 2016-528 A district court has approved IRS’s calculation of an extension of the statute of limitations (SOL) on collection based on the taxpayer’s bankruptcy and his submission of an offer in compromise. It also approved IRS’s foreclosing on its liens on the taxpayer’s property that arose from […]

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District Court – IRS agreement to limit scope of deficiency assessment didn’t help taxpayer’s refund suit

District Court – IRS agreement to limit scope of deficiency assessment didn’t help taxpayer’s refund suit

Hamilton, (DC CO 1/13/2016) 117 AFTR 2d ¶ 2016-341 A district court has held that IRS’s agreement to limit any adjustments it made to taxpayer’s tax to those related to charitable deductions, as a condition to extending the statute of limitations for assessment, didn’t impose similar limitations on the court in determining whether the taxpayer […]

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Court of Appeals 9th Circuit – IRS breach of partnership closing agreement didn’t invalidate partner tax assessment

Court of Appeals 9th Circuit – IRS breach of partnership closing agreement didn’t invalidate partner tax assessment

Davis, (CA 9 1/25/2016) 117 AFTR 2d ¶ 2016-368 The Court of Appeals for the Ninth Circuit, reversing a district court decision, has upheld IRS’s assessment of taxes on a partner with respect to partnership items, even though IRS breached a clause in its closing agreement with the partnership. The Court also rejected the partner’s […]

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Refund allowed due to election to deduct foreign income taxes freeing up NOL carryback

Refund allowed due to election to deduct foreign income taxes freeing up NOL carryback

Chief Counsel Advice 20154010, Chief Counsel Advice 20154011 In Chief Counsel Advice (CCA), IRS has concluded that a taxpayer’s claim for refund was timely because the taxpayer made a Code Sec. 901 election to deduct foreign taxes paid within the 10-year period under Code Sec. 6511(d)(3)(A), and the taxpayer filed its claim for refund based […]

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IRS correspondence was “notice and demand” that ended stay of collection statute of limitations

IRS correspondence was “notice and demand” that ended stay of collection statute of limitations

Godley, Jr., (DC NC 9/29/2015) 116 AFTR 2d ¶ 2015-5295 A district court has held that: a) the suspension of the 10-year statute of limitations (SOL) on tax collection, that applies when an estate’s Code Sec. 6166 (deferred payment of estate tax) election is in place, is lifted when the estate fails to timely make […]

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Corporation’s untimely refund claim not saved by informal refund or waiver doctrines

Corporation’s untimely refund claim not saved by informal refund or waiver doctrines

Chief Counsel Advice 201540012 In Chief Counsel Advice (CCA), IRS has determined that a corporation’s refund claim stemming from foreign tax credits (FTCs) was untimely under Code Sec. 6511(d)(3)(A), where it was filed more than 10 years after the return for that year was originally due. IRS further concluded that the corporation failed to satisfy […]

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Court of Appeals, 5th Circuit reverses; application for Taxpayer Advocate relief tolls third party wrongful levy SOL

Court of Appeals, 5th Circuit reverses; application for Taxpayer Advocate relief tolls third party wrongful levy SOL

Rothkamm, (CA 5 9/21/2015) 116 AFTR 2d ¶ 2015-5263 The Court of Appeals for the Fifth Circuit has reversed a district court holding and found that: a) a party whose property was levied upon to pay another taxpayer’s tax is a “taxpayer” for purposes of Code Sec. 7811(d)’s tolling of the statute of limitations (SOL); […]

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CCA addresses individual’s authority to sign LLC’s corporate income tax return

CCA addresses individual’s authority to sign LLC’s corporate income tax return

Chief Counsel Advice 201536025 In emailed Chief Counsel Advice (CCA), IRS has concluded that the officer of the sole remaining member of a limited liability company (LLC), which in turn is the manager of the taxpayer (another LLC), has authority to sign the Form 1120 for the taxpayer. The CCA also analyzed the elements of […]

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Failure to adequately describe gifts allowed IRS to assess gift tax at any time

Failure to adequately describe gifts allowed IRS to assess gift tax at any time

Legal Advice Issued by Field Attorneys 20152201F Background on gift tax limitations period. The Code imposes a tax on a transfer of property by gift. (Code Sec. 2501(a)) In general, any individual who makes a transfer by gift in any calendar year must file a gift tax return for that year using Form 709, United States […]

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Court of Appeals, Federal Circuit holds refund claim for disputed foreign credits time-barred

Court of Appeals, Federal Circuit holds refund claim for disputed foreign credits time-barred

Albemarle Corp. v. U.S., (CA Fed Cir 3/13/2015) 116 AFTR 2d ¶2015-5141 Affirming the Court of Federal Claims, the Court of Appeals for the Federal Circuit has held that when foreign taxes are contested, the 10-year limitations period in Code Sec. 6511(d)(3)(A) for filing claims for foreign tax credits begins with date for filing the […]

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Tax Court holds partnership’s agreement to extend SOL was valid because signer had apparent authority

Tax Court holds partnership’s agreement to extend SOL was valid because signer had apparent authority

Summit Vineyard Holdings LLC, TC Memo 2015-140 The Tax Court has held that the execution of Form 872-P to extend the limitations period for a partnership’s tax year was valid because, although the person who signed that form didn’t have actual authority to do so, he had apparent authority, under contract law, to do so. […]

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Court of Appeals – Different positions in two tax years didn’t meet “inconsistent position” mitigation requirement

Court of Appeals – Different positions in two tax years didn’t meet “inconsistent position” mitigation requirement

Illinois Lumber and Material Dealers Association Health Insurance Trust, (CA 8 7/23/2015) 116 AFTR 2d ¶2015-5079 The Court of Appeals for the Eighth Circuit has held that the fact that IRS held a position in a closed tax year that was inconsistent with a position that it held in an open tax year was insufficient […]

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Court of Appeals – promoter’s fraudulent intent insufficient to keep limitations period open

Court of Appeals – promoter’s fraudulent intent insufficient to keep limitations period open

BASR Partnership v. U.S., (Fed CA 7/290/2015) 116 AFTR 2d ¶2015-5100 The Court of Appeals for the Federal Circuit, affirming the Court of Federal Claims, has determined that there can be a suspension of the three-year limitation period for fraud under Code Sec. 6501(c)(1) only when the taxpayer, and not a third party, acts with […]

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IRS could rely on corporation’s consent to extend the statute of limitations despite errors

IRS could rely on corporation’s consent to extend the statute of limitations despite errors

Legal Advice Issued by Field Attorneys 20152301F Click here for Legal Advice Issued by Field Attorneys 20152301F. A heavily redacted Legal Advice Issued by Field Attorneys (LAFA) has concluded that IRS could rely upon a consent to extend the statute of limitations on assessment signed pursuant to a power of attorney (POA) executed by the […]

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Court says reportable transaction reg is irrelevant to applying statute of limitations

Court says reportable transaction reg is irrelevant to applying statute of limitations

May, (DC AZ 6/15/2015) 115 AFTR 2d ¶ 2015-827 A district court has criticized portions of Reg. § 1.6011-4, the reg requiring disclosure of reportable transactions, as being tautological, and has said they are irrelevant to whether the statute of limitations (SOL) for assessing the listed transaction penalty applies. It also found that the taxpayer’s […]

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Court of Appeals rules 6-year assessment period applied for inadequately disclosed ESOP distribution

Court of Appeals rules 6-year assessment period applied for inadequately disclosed ESOP distribution

Heckman v. Comm., (CA 8 6/10/2015) 115 AFTR 2d ¶ 2015-817 The Court of Appeals for the Eighth Circuit, affirming the Tax Court, has determined that the extended 6-year limitations period on assessment, and not the regular 3-year period, applied to the deficiency of a taxpayer who received but failed to report a distribution from […]

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Gain from corporate distribution in sham transaction triggered 6-year assessment period

Gain from corporate distribution in sham transaction triggered 6-year assessment period

CNT Investors, LLC, Charles C, Carrol, Tax Matters Partner, (2015) 144 TC No. 11   The Tax Court has concluded that while it had to disregard any omitted gain that was attributable solely to the basis overstatement in a sham Son-of-BOSS transaction to determine if a 6-year assessment period applied, the corporate distribution of property […]

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Executor’s failure to report foreign financial assets triggered suspended assessment period

Executor’s failure to report foreign financial assets triggered suspended assessment period

Program Manager Technical Advice 2014-018 In a Program Manager Technical Advice (PMTA), IRS has concluded that Code Sec. 6501(c)(8) will operate to extend the period of limitations for the assessment of tax with respect to an estate’s Form 1041 (U.S. Income Tax Return for Estates and Trusts) and Form 706 (United States Estate (and Generation-Skipping […]

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9th Circuit Reverses Tax Court & Finds Taxpayer Did Make Fraudulent Conveyance

9th Circuit Reverses Tax Court & Finds Taxpayer Did Make Fraudulent Conveyance

Salus Mundi Foundation (CA 9 12/22/2014) 114 AFTR 2d ¶2014-5556   In a case involving whether shareholders were liable for their corporation’s tax under the Code’s transferee liability rules, the Court of Appeals for the Ninth Circuit has reversed a Tax Court decision that held that they did not make a fraudulent conveyance under state […]

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25% income omission for 6-year assessment period based on gains, not amounts realized

25% income omission for 6-year assessment period based on gains, not amounts realized

Barkett, (2014) 143 TC No. 61 The Tax Court has held that, for purposes of determining the applicability of the 6-year limitations period under Code Sec. 6501(e)(1)(A), whether a taxpayer has omitted from gross income an amount greater than 25% of the amount of gross income stated in the return is calculated based on the […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney