California Thoroughbred Breeders Ass'n v. Commissioner
United States Tax Court
Petitioner, an organization exempt under sec. 501(c)(5), I.R.C., 1954, filed Forms 990 but not Forms 990-T for 1959 and 1960. More than 3 years after the Forms 990 were filed, respondent asserted deficiencies on the ground that petitioner was subject to the tax on unrelated business income. Held, that the deficiency notice was untimely for the reason that, under sec. 6501(g)(2), the Forms 990 constituted the return for the purposes of the 3-year period of limitations.
1Opinion of the Court
Tannenwald, Judge:
Respondent determined deficiencies of $13,598.20 and $1,591.17 in petitioner’s Federal income tax for the taxable years 1959 and 1960, respectively. The determination involves the following issues:(1) Whether the filing of an information return (Form 990) commenced the running of the period of limitations against assessment of the tax on unrelated business income imposed 'by section 511;1 and(2) If not, whether any of the income petitioner realized during 1959 and 1960 from its activities in connection with sales of horses (herein referred to as breeders sales) constituted…
2Cases cited4 opinions
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- Janpol v. CommissionerUnited States Tax Court · 1994
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