Connell Bus. Co. v. Comm'r

2004 T.C. Memo. 131, 87 T.C.M. 1384, 2004 Tax Ct. Memo LEXIS 132
CourtUnited States Tax Court
DecidedJune 1, 2004
DocketNo. 13667-01; No. 13668-01; No. 13669-01; No. 13670-01; No. 13671-01
StatusUnpublished
Cited by2 cases

This text of 2004 T.C. Memo. 131 (Connell Bus. Co. v. Comm'r) is published on Counsel Stack Legal Research, covering United States Tax Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Connell Bus. Co. v. Comm'r, 2004 T.C. Memo. 131, 87 T.C.M. 1384, 2004 Tax Ct. Memo LEXIS 132 (tax 2004).

Opinion

THE CONNELL BUSINESS COMPANY, ET AL., Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Connell Bus. Co. v. Comm'r
No. 13667-01; No. 13668-01; No. 13669-01; No. 13670-01; No. 13671-01
United States Tax Court
T.C. Memo 2004-131; 2004 Tax Ct. Memo LEXIS 132; 87 T.C.M. (CCH) 1384;
June 1, 2004, Filed

*132 Decision was entered for Petitioners in part.

THE CONNELL BUSINESS COMPANY, ET AL., 1

               Petitioners

                 v.

         COMMISSIONER OF INTERNAL REVENUE,

               Respondent

Joe Alfred Izen, Jr., for petitioners.
Richard J. Hassebrock, for respondent.
Gale, Joseph H.

GALE

MEMORANDUM OPINION

GALE, Judge: Respondent determined deficiencies in petitioners' Federal income taxes and accuracy-related penalties for the tax years 1995, 1996, and 1997 as follows:

           The Connell Business Co.

             docket No. 13667-01

               Accuracy-related penalties

   Year    Deficiency       Sec. 6662(a)    1995   *133   $ 17,935        $ 3,587.00

   1996      31,946         6,389.20

   1997      14,394         2,878.80

           The Connell Family Trust

             docket No. 13668-01

   Year    Deficiency       Sec. 6662(a)    1995     $ 21,061        $ 4,212.20

   1996      32,764         6,552.80

   1997      25,738         5,147.60

            The Connell Vehicle Co.

             docket No. 13669-01

        Year       Deficiency

        1995        $ 136

        1996         136

          The Connell Vehicle Co. #101

             docket No. 13670-01

   Year    Deficiency       Sec. 6662(a)    1995    $ 1,348       *134   $ 269.60

   1996     1,338          267.60

   1997      962          192.40

         Thomas E. and Sara Anne Connell:

             docket No. 13671-01

   Year    Deficiency     Sec. 6662(a)    1995    $ 30,576.26      $ 6,115.25

   1996     56,956.65       11,391.33

   1997     24,371.16       4,874.23

Unless otherwise noted, all section references are to the Internal Revenue Code in effect during the taxable years at issue, and all Rule references are to the Tax Court Rules of Practice and Procedure.

After concessions, the issues remaining for decision are: (1) Whether the notice of deficiency issued to petitioners Thomas E. and Sara Anne Connell was timely as to the 1995 and 1996 tax years; and (2) whether respondent is estopped from asserting deficiencies for the 1995, 1996, and 1997 tax years against petitioners Thomas E. and Sara Anne Connell because he prematurely assessed the deficiencies and later abated some, but not*135 all, of the assessments. 2

*136 For the reasons stated below, we hold that the notice of deficiency was timely as to the 1995 and 1996 tax years because it was issued within the 6-year period of limitations provided in section 6501(e)(1)(A). We further hold that the premature assessment of deficiencies for 1995, 1996, and 1997 and subsequent abatement of those assessments does not bar respondent from reassessing those deficiencies.

             Background

The parties submitted these cases fully stipulated, pursuant to Rule 122. The stipulation of facts, supplemental stipulation of facts, and the attached exhibits are incorporated herein by this reference.

Petitioners are Thomas E. and Sara Anne Connell (petitioners) and four trusts, The Connell Business Co., The Connell Family Trust, The Connell Vehicle Co., and The Connell Vehicle Co. #101 (collectively, petitioner trusts). At the time they filed their petitions, petitioners resided in Dayton, Ohio, and the petitioner trusts' addresses were in Dayton, Ohio.

Petitioners and the petitioner trusts filed their Federal income tax returns for 1995, 1996, and 1997 on April 15, 1996 and 1997 and August 15, 1998, respectively.

Except for*137 the 1997 return filed by The Connell Vehicle Co. #101, which identified The Connell Family Trust as the beneficiary, the returns filed by The Connell Vehicle Co. and The Connell Vehicle Co. #101 identified The Connell Business Co. as the trusts' beneficiary.

The returns filed by The Connell Business Co. identified The Connell Family Trust as the beneficiary.

The 1995 and 1996 returns filed by The Connell Family Trust identified petitioners and The Connell Charitable Trust as beneficiaries. The Connell Family Trust return for 1996 reported distributions of $ 6,068 to each of the petitioners.

Petitioners' individual returns made no reference to the petitioner trusts or in any way indicated that petitioners were associated with, beneficiaries of, or recipients of income from, the petitioner trusts.

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Bluebook (online)
2004 T.C. Memo. 131, 87 T.C.M. 1384, 2004 Tax Ct. Memo LEXIS 132, Counsel Stack Legal Research, https://law.counselstack.com/opinion/connell-bus-co-v-commr-tax-2004.