James H. Ballengee & A.C. Heyde

United States Tax Court·Decided August 19, 2026·No. 8201-24·Unpublished

Opinion

United States Tax Court

T.C. Memo. 2026-73

JAMES H. BALLENGEE AND A.C. HEYDE, Petitioners

v.

COMMISSIONER OF INTERNAL REVENUE, Respondent

Docket No. 8201-24L. Filed August 19, 2026.

Sarah Ann Duckers, for petitioners.

Daniel Charles Brauweiler and Gordon P. Sanz, for respondent.

MEMORANDUM FINDINGS OF FACT AND OPINION

LANDY, Judge: In this collection due process (CDP) case, the Internal Revenue Service (IRS) issued a Final Notice, Notice of Intent to Levy (Levy Notice) and a notice of the filing of a Notice of Federal Tax Lien (NFTL) to collect unpaid income tax liabilities for taxable years 2016 through 2018 from petitioners, James H. Ballengee and A.C. Heyde. Petitioners seek review, pursuant to sections 6320 and 6330, of the IRS Independent Office of Appeals’ (Appeals Office) determination to sustain the Levy Notice and the filing of the NFTL. 1

1 Unless otherwise indicated, statutory references are to the Internal Revenue

Code, Title 26 U.S.C., in effect at all relevant times, regulation references are to the Code of Federal Regulations, Title 26 (Treas. Reg.), in effect at all relevant times, and Rule references are to the Tax Court Rules of Practice and Procedure. All monetary amounts are rounded to the nearest dollar.

Served 08/19/26

[*2] After concessions, 2 the issues for decision are (1) whether the execution of Form 870–LT, Agreement for Partnership Items and Partnership Level Determinations as to Penalties, Additions to Tax, and Additional Amounts and Agreement for Affected Items, by petitioners precludes them from challenging their underlying tax liabilities for 2016 and 2017 (years at issue), and (2) whether the Commissioner abused his discretion in sustaining the Levy Notice and the filing of the NFTL.

For the reasons set forth below, we determine that petitioners are precluded from challenging their underlying tax liabilities, and that the Commissioner did not abuse his discretion in sustaining the Levy Notice and the filing of the NFTL.

FINDINGS OF FACT

I. Mr. Ballengee

Petitioner James H. Ballengee received a bachelor of science in accounting from Louisiana State University; and although he is not currently licensed, he practiced as a certified public accountant (CPA) for five years at KPMG. After leaving KPMG, Mr. Ballengee founded and sold multiple companies in the oil and gas industry. Because of the nature of his work, Mr. Ballengee reviewed legal documents and frequently consulted with professionals, such as lawyers or CPAs, before executing said documents, as needed.

II. Petitioners’ Income Tax Liabilities

During the years at issue Ballengee Interests, LLC (Ballengee Interests), was a partnership for federal tax purposes. 3 The partners of Ballengee Interests were petitioner James H. Ballengee and James Ballengee Alex Heyde Holdings, LLC (JBAH Holdings), also a partnership for federal tax purposes and of which Mr. Ballengee was the manager. For the years at issue Ballengee Interests claimed net operating loss (NOL) carryforwards for recourse debts of $18.7 million and $64.3 million, respectively.

2 For taxable year 2018 the Commissioner conceded that neither Mr. Ballengee

nor Ms. Heyde is liable for any amount due, and as a result the Levy Notice and the NFTL filing will not be sustained. No further issues related to 2018 will be discussed.

3 Before its repeal, the Tax Equity and Fiscal Responsibility Act of 1982

(TEFRA), Pub. L. No. 97-248, §§ 401–407, 96 Stat. 324, 648–71, governed the tax treatment and audit process for many partnerships, including Ballengee Interests. Any references to former sections 6221–6234 are references to the TEFRA provisions.

[*3] A. Examination of Ballengee Interests’ Returns and Petitioners’ Returns for 2016 and 2017

In February 2019 the IRS notified petitioners that it was commencing an examination of their 2016 Form 1040, U.S. Individual Income Tax Return, and Ballengee Interests’ 2016 Form 1065, U.S. Return of Partnership Income. 4 On March 9, 2020, the IRS sent to JBAH Holdings Letter 1787–C, Notice of Beginning of Administrative Proceedings, stating that it was initiating an examination of Ballengee Interests’ 2017 Form 1065. Petitioners retained CPAs Kevin Trimble and Phil Haley as their representatives for these examinations. Revenue Agent (RA) Henderson conducted the examination of the partnership and individual tax returns for the years at issue and communicated with Mr. Haley and Mr. Trimble.

On May 12, 2020, RA Henderson sent to both Mr. Ballengee and Mr. Trimble an examination summary report regarding Ballengee Interests’ tax returns. This summary report included Form 4605–A, Examination Changes – Partnerships, Fiduciaries, S Corporations, and Interest Charge Domestic International Sales Corporations; a Partnership Balance Sheet Recourse Liabilities Lead Sheet for Ballengee Interests; Forms 870–LT, with an accompanying continuation page prepared for petitioners and JBAH Holdings, LLC; and a Notice of Waiver of Closing Conference.

On May 18, 2020, Mr. Haley spoke with RA Henderson to discuss the examination summary report. The summary report proposed a reclassification of Ballengee Interests’ reported debt from recourse to nonrecourse, resulting in the disallowance of the NOL carryforwards for the years at issue. During the conference call, Mr. Haley raised issues regarding the proposed adjustment, citing documents that he had previously sent to RA Henderson. After May 18, 2020, Mr. Haley did not speak with RA Henderson again.

4 Mr. Ballengee executed Form 872–P, Consent to Extend the Time to Assess

Tax Attributable to Partnership Items, dated December 17, 2019, to extend the period to assess any income tax attributable to partnership items for Ballengee Interests for taxable year 2016 until December 31, 2021.

[*4] B. Execution of Form 870–LT

Petitioners received Form 870–LT 5 and executed it on June 2, 2020. Mr. Ballengee executed Form 870–LT, Part I, on behalf of JBAH Holdings as its manager, and separately, petitioners executed Form 870–LT, Part II, in their individual capacities. Part I of Form 870–LT was an offer of agreement to partnership items and partnership-level determinations which the manager of JBAH Holdings, Mr. Ballengee, could sign to bind Ballengee Interests to partnership-level adjustments. Part I contains a waiver of the assessment and collection restrictions provided by sections 6225(a) and 6213(a), and consent to assess and collect any resulting tax, penalties, additions to tax, and additional amounts relating to partnership items.

Form 870–LT contained only the names of the partnerships, the names of petitioners, the years at issue, and a statement in the remarks: “See attached 870–LT Continuation Page.”

The Continuation Page stated:

Accuracy related penalties under IRC section 6662 are determined to apply to the entire amount of any underpayment of tax attributable to the adjustments to the partnership items.

The accompanying Form 886–A, Explanation of Partnership Items and Partnership-Level Adjustments, is hereby incorporated by references.

Accompanying Form 886–As include At Risk (IRC § 465), Taxable Distributions, & Unsubstantiated [NOL] CF from FTE losses.

During the partnership unified proceeding, it was determined that components of the partners’ basis and/or at-risk result in limitations on some of the losses which each partner may deduct in this year.

5 Form 870–LT has three parts: Part I, Offer of Agreement to Partnership

Items and Partnership Level Determinations as to Penalties, Additions to Tax, and Additional Amounts & Waiver of Restrictions on Assessment for Partnership Items, Penalties, Additions to Tax, and Additional Amounts; Part II, Offer of Agreement for Affected Items and Waiver of Restrictions on Assessment; and a Schedule of Adjustments.

[*5] Basis and/or at-risk limitations are considered affected items which are proposed to each partner upon the completion of the TEFRA unified proceedings.

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