Stoddard v United States

Magistrate's Report & Recommendation in Tax Refund Case, re summary judgment

more+
less-

In this income tax refund case, the Magistrate recommended that the district court judge grant the government's motion for summary judgment on all but one of three issues. He, in essence, found that there was no question of fact that a TEFRA partnership item (investment tax credit) was carried back from 1983 to 1980 and, therefore, the assessment of that tax in 1996 was not barred by the statute of limitations contained in 26 USC § 6501(a). Moreover, the Magistrate found that the penalty or addition to tax for failure to pay estimated taxes, set forth in 26 USC § 6654, essentially created strict liability for the addition to tax, even though the taxpayer's accountant and tax return prepared submitted an uncontroverted affidavit that he was unable to obtain the necessary information in a timely manner to determine the estimated tax due.

LOADING PDF: If there are any problems, click here to download the file.

Reference Info:Decision | Federal, 6th Circuit, Michigan | United States


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Marc Thomas, Bendure Thomas Law | Attorney Advertising

Written by:

more+
less-

Bendure Thomas Law on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×