Dynamo Holdings Limited Partnership, Dynamo, GP, Inc., Tax Matters Partner v. Commissioner

150 T.C. No. 10
CourtUnited States Tax Court
DecidedMay 7, 2018
Docket2685-11, 8393-12
StatusUnknown

This text of 150 T.C. No. 10 (Dynamo Holdings Limited Partnership, Dynamo, GP, Inc., Tax Matters Partner v. Commissioner) 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
Dynamo Holdings Limited Partnership, Dynamo, GP, Inc., Tax Matters Partner v. Commissioner, 150 T.C. No. 10 (tax 2018).

Opinion

150 T.C. No. 10

UNITED STATES TAX COURT

DYNAMO HOLDINGS LIMITED PARTNERSHIP, DYNAMO, GP, INC., TAX MATTERS PARTNER, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent

BEEKMAN VISTA, INC., Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent

Docket Nos. 2685-11, 8393-12. Filed May 7, 2018.

In these consolidated cases C, a corporation, and P, a partnership, share common ownership. During the years in issue C transferred property to P. R argues that the transfers were gifts among the ultimate beneficial owners. R argues in the alternative that the transfers were for less than fair market value and that the amounts of the discount are subject to withholding tax under I.R.C. secs. 1442 and 1445(e)(3). R determined that penalties under I.R.C. sec. 6662(a) applied to the adjustments in the P proceeding and also determined additions to tax under I.R.C. sec. 6651(a)(1) and penalties under I.R.C. sec. 6656(a) against C.

In Graev v. Commissioner, 149 T.C. __ (Dec. 20, 2017), supplementing 147 T.C. 460 (2016), we held that in cases where the Commissioner bears the burden of production with respect to 2

penalties under I.R.C. sec. 7491(c), the burden of production includes evidence of written supervisory approval of penalties as required by I.R.C. sec. 6751(b)(1). Under I.R.C. sec. 7491(c), R “shall have the burden of production in any court proceeding with respect to the liability of any individual for any penalty, addition to tax, or additional amount imposed by this title.”

R filed a motion to reopen the record to supplement existing proof of supervisory approval. C and P moved for dismissal as to the penalties because R did not meet the burden of production with respect to penalties under I.R.C. sec. 7491(c).

Held: In a partnership-level proceeding R does not bear the burden of production with respect to penalties under I.R.C. sec. 7491(c).

Held, further, where the Commissioner does not bear the burden of production as to penalties, the lack of supervisory approval of penalties may be raised as a defense to those penalties.

Held, further, C and P did not raise the lack of supervisory approval of penalties as a defense to penalties, and therefore the defense is waived.

Held, further, the motion to reopen the record will be denied.

Held, further, the motion to dismiss as to penalties will be denied.

Martin R. Press, Edward A. Marod, Clinton R. Losego, Lu-Ann M.

Dominguez, Alan S. Lederman, and John W. Terwilleger, for petitioners. 3

David B. Flassing, Lisa M. Goldberg, William G. Merkle, Timothy A.

Sloane, and G. Roger Markley, for respondent.

BUCH, Judge: The issue before us is whether we should grant the

Commissioner’s motion to reopen the record to receive further evidence

concerning supervisory approval of the penalties that are at issue. In deciding this

issue, we must confront the question of whether the Commissioner bears the

burden of production with respect to penalties under section 7491(c) in a

partnership-level proceeding.1

Petitioners in these consolidated cases are Beekman Vista, Inc. (Beekman

Vista), a U.S. corporation, and Dynamo GP, Inc. (Dynamo GP), the tax matters

partner of Dynamo Holdings Limited Partnership (Dynamo), a partnership. The

Commissioner determined an addition to tax under section 6651(a)(1) and a

penalty under section 6656(a) against Beekman Vista and determined that a

penalty under section 6662(a) applies to the adjustments for Dynamo. In the past

we have questioned whether the Commissioner bears the burden of production

with respect to penalties under section 7491(c) in a partnership-level proceeding,

1 All section references are to the Internal Revenue Code (Code) in effect at all relevant times, and all Rule references are to the Tax Court Rules of Practice and Procedure, unless otherwise indicated. 4

but we have never expressly ruled on the issue. We hold that the Commissioner

does not bear the burden of production with respect to penalties in a partnership-

level proceeding.

FINDINGS OF FACT

Beekman Vista is a Delaware corporation that is wholly owned by a

Canadian entity. It is a property development company that specializes in

developing property in southern Florida, and its principal place of business is

Florida. Dynamo is a partnership formed in Delaware with its principal place of

business is Florida. Like Beekman Vista, Dynamo is in the business of property

development and specializes in developing property in southern Florida. Dynamo

and Beekman Vista have at least one direct owner in common and share other

indirect beneficial owners.

During 2005, 2006, and 2007, the years in issue, there were transfers of

property among Beekman Vista, Dynamo, and entities owned by each of them.

The Commissioner principally argues that those transfers were gifts among the

beneficial owners of Beekman Vista and Dynamo. Beekman Vista and Dynamo

GP argue that the transfers were sales paid for with loans that were eventually

repaid. If we find bona fide loans, the Commissioner argues that the transfers

were for less than fair market value and that the discounts were constructive 5

distributions subject to withholding taxes. Beekman Vista and Dynamo GP argue

that the transfers were for fair market value. We will address these issues in a

separate opinion.

The Commissioner examined Beekman Vista’s income tax returns for tax

years ending June 30, 2004 through 2008, and Dynamo’s partnership returns for

2005, 2006, and 2007.

The income tax examination of Beekman Vista’s returns led to an

examination of whether Beekman Vista properly withheld taxes under section

1442. On February 1, 2012, the Commissioner issued a notice of deficiency to

Beekman Vista for 2005 and 2006. The Commissioner determined that Beekman

Vista was liable for withholding taxes and for an addition to tax under section

6651(a)(1) and a penalty under section 6656(a) for each year. Beekman Vista

filed a timely petition challenging the deficiencies, the additions to tax, and the

penalties. In an amendment to answer the Commissioner asserted an increased

deficiency, an increase to the addition to tax under section 6651(a)(1), and an

increase to the amount of the section 6656(a) penalty for each year.

The Commissioner issued a notice of final partnership administrative

adjustment (FPAA) with respect to Dynamo for 2005, 2006, and 2007 on

December 28, 2010. In addition to various adjustments to partnership items, the 6

Commissioner determined the applicability of accuracy-related penalties under

section 6662(a) and (b)(1) and (2) for negligence and substantial understatements

of income tax.

In their respective petitions, neither Beekman Vista nor Dynamo GP raised

the issue of whether the Commissioner complied with the supervisory approval

requirement of section 6751(b). The cases were consolidated, and a two-week

trial was held in early 2017.

On December 20, 2017, the Court issued an Opinion in Graev v.

Commissioner (Graev III), 149 T.C. ___ (Dec. 20, 2017), supplementing 147 T.C.

460 (2016). In Graev III, 149 T.C. at ___ (slip op. at 14), we held that in cases in

which the Commissioner bears the burden of production with respect to penalties

under section 7491(c), the burden of production includes evidence of written

supervisory approval of penalties as required by section 6751(b)(1). On December

21, 2017, we issued an order in these consolidated cases directing the parties’

Free access — add to your briefcase to read the full text and ask questions with AI

Related

United States v. Jamie Edward Byrd
403 F.3d 1278 (Eleventh Circuit, 2005)
Federal Deposit Insurance v. Meyer
510 U.S. 471 (Supreme Court, 1994)
Desmet v. Commissioner of Internal Revenue
581 F.3d 297 (Sixth Circuit, 2009)
GRIGORACI v. COMMISSIONER
2002 T.C. Memo. 202 (U.S. Tax Court, 2002)
Santa Monica Pictures, L.L.C. v. Comm'r
2005 T.C. Memo. 104 (U.S. Tax Court, 2005)
Gates v. Commissioner
135 T.C. No. 1 (U.S. Tax Court, 2010)
Rader v. Commissioner
143 T.C. No. 19 (U.S. Tax Court, 2014)
Curtis Inv. Co., LLC v. Comm'r
2017 T.C. Memo. 150 (U.S. Tax Court, 2017)
Foothill Ranch Co. Pshp. v. Commissioner
110 T.C. No. 8 (U.S. Tax Court, 1998)
Shea v. Commissioner
112 T.C. No. 14 (U.S. Tax Court, 1999)
BUTLER v. COMMISSIONER OF INTERNAL REVENUE
114 T.C. No. 19 (U.S. Tax Court, 2000)
NT, Inc. v. Comm'r
126 T.C. No. 8 (U.S. Tax Court, 2006)
Domulewicz v. Comm'r
129 T.C. No. 3 (U.S. Tax Court, 2007)
Petzoldt v. Commissioner
92 T.C. No. 37 (U.S. Tax Court, 1989)
Chef's Choice Produce, Ltd. v. Commissioner
95 T.C. No. 28 (U.S. Tax Court, 1990)

Cite This Page — Counsel Stack

Bluebook (online)
150 T.C. No. 10, Counsel Stack Legal Research, https://law.counselstack.com/opinion/dynamo-holdings-limited-partnership-dynamo-gp-inc-tax-matters-partner-tax-2018.