Neri v. Commissioner
United States Tax Court
Petitioners' wholly owned subchapter S corporation suffered net operating losses in its taxable years ending Apr. 30, 1963 through 1965. Following advice given by a representative of the Internal Revenue Service, petitioners filed applications for tentative carryback adjustments in which they deducted the net operating losses against gross income of years prior to the years in which the losses were sustained, rather than first applying these losses against their income for…
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Petitioners' wholly owned subchapter S corporation suffered net operating losses in its taxable years ending Apr. 30, 1963 through 1965. Following advice given by a representative of the Internal Revenue Service, petitioners filed applications for tentative carryback adjustments in which they deducted the net operating losses against gross income of years prior to the years in which the losses were sustained, rather than first applying these losses against their income for the calendar years in which the corporation's loss years ended as provided in sec. 1374(b), I.R.C. 1954. The adjustments…
1Opinion of the Court
OPINION
Petitioners contend that the refunds made pursuant to their applications for tentative carryback adjustments were “erroneous refunds” within the meaning of section 6582(b),1 and that, consequently, any action by respondent for their recovery was required to be taken within 2 years after they were made. Respondent denies that his remedies are so limited, and asserts that, in addition to a suit for an erroneous refund, he may pursue either of the following courses: (1) Assessment as a mathematical error under section 6213(b) (2); or (2) assessment as a deficiency pursuant to a notice of…
2Cases cited4 opinions
- Automobile Club of Mich. v. CommissionerSupreme Court of the United States · 1957
- Polachek v. CommissionerUnited States Tax Court · 1954
- Leuthesser v. CommissionerUnited States Tax Court · 1952
- Bouchey v. CommissionerUnited States Tax Court · 1953
3Cited by44 opinions
- Coors v. CommissionerUnited States Tax Court · 1973
- Pesch v. CommissionerUnited States Tax Court · 1982
- Midland Mortg. Co. v. CommissionerUnited States Tax Court · 1980
- Union Equity Cooperative Exchange v. CommissionerUnited States Tax Court · 1972
- Herman Bennett Co. v. CommissionerUnited States Tax Court · 1975
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