Zarnow v. Commissioner
United States Tax Court
The petitioner and her husband filed a joint income tax return for 1960 showing a net operating loss and applied for a tentative carryback adjustment pursuant to sec. 6411, I.R.C. 1954. The respondent failed to act upon the application within 90 days as required by that section, but later he determined that there was a deficiency in their income tax and self-employment tax for such year, in part, by an analysis of bank deposits.
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The petitioner and her husband filed a joint income tax return for 1960 showing a net operating loss and applied for a tentative carryback adjustment pursuant to sec. 6411, I.R.C. 1954. The respondent failed to act upon the application within 90 days as required by that section, but later he determined that there was a deficiency in their income tax and self-employment tax for such year, in part, by an analysis of bank deposits. The respondent also determined an addition to both taxes pursuant to sec. 6653(a), I.R.C. 1954. Held, sec. 6411, I.R.C. 1954, requiring the respondent to act upon an…
1Opinion of the Court
Simpson, Judge:
Tbe respondent determined a deficiency of $6,645.21 in tlie tax of petitioner and ber late husband for 1960, consisting of $6,497 in income tax and $148.21 in self-employment tax. He further determined that an addition to such tax of $332.26 was applicable pursuant to section 6653(a) of the Internal Revenue Code of 1954.1 The issues for decision in this case are: (1) Whether the failure of the respondent to act on an application for tentative carryback adjustment within 90 days prevents his assertion of a deficiency for the year of the alleged net operating loss; (2) whether…
2Cases cited9 opinions
- Courtney v. CommissionerUnited States Tax Court · 1957
- William O'Dwyer and Sloan O'Dwyer v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1959
- O'Dwyer v. CommissionerUnited States Tax Court · 1957
- Lillian Bernstein, of the Estate of Kalman Bernstein, Deceased v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1959
- F.B. Blansett and Ethel Blansett v. United StatesCourt of Appeals for the Eighth Circuit · 1960
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3Cited by42 opinions
- Estate of Mason v. CommissionerUnited States Tax Court · 1975
- Parks v. CommissionerUnited States Tax Court · 1990
- Pesch v. CommissionerUnited States Tax Court · 1982
- Union Equity Cooperative Exchange v. CommissionerUnited States Tax Court · 1972
- Ron Lykins, Inc. v. Comm'rUnited States Tax Court · 2009
37 more not listed; retrieve them via the Exa API.