Baldwin v. Commissioner
United States Tax Court
An application for tentative refund (Form 1045) to carry back a net operating loss (NOL) for 1987 to 1985 was tentatively allowed and a credit made against the amount of Ps' 1985 tax that had not been paid when the 1985 return was filed. Subsequently, respondent disallowed the 1987 NOL and determined a deficiency for 1985 in the amount of the previously allowed credit.
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An application for tentative refund (Form 1045) to carry back a net operating loss (NOL) for 1987 to 1985 was tentatively allowed and a credit made against the amount of Ps' 1985 tax that had not been paid when the 1985 return was filed. Subsequently, respondent disallowed the 1987 NOL and determined a deficiency for 1985 in the amount of the previously allowed credit. Ps argue that since the credit was allowed under a Form 1045 and since the correct amount of tax was reflected on their 1985 return (even though not paid), the credit cannot be a "rebate" under sec. 6211(b)(2), there is no…
1Opinion of the Court
JERRY C. BALDWIN and PATRICIA A. BALDWIN, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent.
Baldwin v. Commissioner
Docket No. 315-91
United States Tax Court
97 T.C. 704; 1991 U.S. Tax Ct. LEXIS 109; 97 T.C. No. 47;
December 23, 1991, Filed
An application for tentative refund (Form 1045) to carry back a net operating loss (NOL) for 1987 to 1985 was tentatively allowed and a credit made against the amount of Ps' 1985 tax that had not been paid when the 1985 return was filed. Subsequently, respondent disallowed the 1987 NOL and determined a deficiency for 1985 in the amount of the…
2Cases cited9 opinions
- Hannan v. CommissionerUnited States Tax Court · 1969
- Polachek v. CommissionerUnited States Tax Court · 1954
- Pesch v. CommissionerUnited States Tax Court · 1982
- Midland Mortg. Co. v. CommissionerUnited States Tax Court · 1980
- Neri v. CommissionerUnited States Tax Court · 1970
4 more not listed; retrieve them via the Exa API.