Estate of Smith v. Comm'r
United States Tax Court
On Jan. 24, 2002, the Court entered a decision that there was an overpayment of $ 238,847.24 regarding E's estate tax liability, which amount was paid after the mailing of the notice of deficiency. That decision is now final. R issued refunds to E which were less than the overpayment amount and interest thereon.
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On Jan. 24, 2002, the Court entered a decision that there was an overpayment of $ 238,847.24 regarding E's estate tax liability, which amount was paid after the mailing of the notice of deficiency. That decision is now final. R issued refunds to E which were less than the overpayment amount and interest thereon. R alleges that the refund was less than the $ 238,847.24 overpayment and interest thereon because, after our decision became final, and pursuant to sec. 6402(a), I.R.C., he applied$ 85,336.83 of the $ 238,847.24 overpayment to assessed but unpaid the date of payment (underpayment…
1DissentGoeke, J.
The opinion adopted today reaches an unjust result, reasoning that the principle of finality requires that result. The estate and respondent entered into agreed Rule 155 computations and submitted the computations to this Court with a suggested decision document. The agreed computations clearly treat the overpayment of tax as an amount separate from the interest owed by the estate. In arriving at the overpayment amount of $238,847.24, the parties simply subtracted the estate’s tax liability ($385,747.17) from its payments that were applied to the tax liability ($624,594.41). Indeed, the…
2Cases cited5 opinions
- Goldsmith v. United States Board of Tax AppealsSupreme Court of the United States · 1926
- Estate of Baumgardner v. CommissionerUnited States Tax Court · 1985
- Barton v. CommissionerUnited States Tax Court · 1991
- Paul F. Belloff v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1993
- Willamette Indus. v. CommissionerUnited States Tax Court · 1995