Bergmann v. Commissioner
United States Tax Court
Ps participated in a transaction promoted by KPMG, LLP (KPMG), that was the same as or substantially similar to a tax avoidance transaction described in Notice 2000-44, 2000-2 C.B. 255. R served KPMG with a summons concerning transactions described in Notice 2000-44, supra. The parties dispute whether the summons terminated the period for Ps to file a qualified amended return (QAR) under sec. 1.6664-2(c)(3), Income Tax Regs.
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Ps participated in a transaction promoted by KPMG, LLP (KPMG), that was the same as or substantially similar to a tax avoidance transaction described in Notice 2000-44, 2000-2 C.B. 255. R served KPMG with a summons concerning transactions described in Notice 2000-44, supra. The parties dispute whether the summons terminated the period for Ps to file a qualified amended return (QAR) under sec. 1.6664-2(c)(3), Income Tax Regs. Ps concede they are liable for a 20-percent accuracy-related penalty under sec. 6662(a), I.R.C., if they failed to file a QAR. R asserts Ps are liable for a 40-percent…
1Opinion of the Court
Kroupa, Judge:
Respondent determined deficiencies in and accuracy-related penalties under section 6662(a) 1 for petitioners’ Federal income taxes for 2001 and 2002. Respondent has since conceded that petitioners are not liable for the 2001 and 2002 deficiencies in tax and the 2002 accuracy-related penalty. Petitioners concede they had a tax underpayment for 2001 if they failed to file a qualified amended return (QAR) under section 1.6664-2(c)(3), Income Tax Regs. They further concede they are liable for a 20-percent accuracy-related penalty of $41,196 if they failed to file a QAR. There remain…
2Cases cited11 opinions
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- McCrary v. CommissionerUnited States Tax Court · 1989
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- Petaluma FX Partners, LLC v. Commissioner of Internal Revenue ServiceCourt of Appeals for the D.C. Circuit · 2010
- Blackmon v. HaleCalifornia Supreme Court · 1970
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