SUMMARY: Tax court finds res judicata no bar to NOL carryback ... Or later assessment.

TOPIC: Practice and Procedure

SECTION: 6212. Notice of deficiency

CITATION: Ron Lykins, Inc. v. Commissioner., 133 T.C. No. 5, (Sept. 2, 2009)

DATE: 2009-09-01

DOC TYPE: Cases

EXPLANATION:

SUMMARY: Extended limitations period does not apply when deficiency due to partnership`s basis overstatement.

TOPIC: Statute of Limitations

SECTION: 6501. Limitations on assessment and collection

CITATION: Intermountain Insurance Service of Vail, Limited Liability Company v. Commissioner., T.C. Memo. 2009-195, 98 T.C.M. 144, (Sept. 1, 2009)

DATE: 2009-08-31

DOC TYPE: Cases

EXPLANATION:

SUMMARY: IRS faqs review partnership audits and litigation procedures.

TOPIC: TEFRA

SECTION: 6221. Tax treatment determined at partnership level

CITATION: Chief Counsel Notice CC-2009-027, 2009ARD 168-6 (Sep. 1, 2009)

DATE: 2009-08-31

DOC TYPE: Chief Counsel (CC) Notices

EXPLANATION:

SUMMARY: Fifth circuit nixes attorney`s intervention in refund suit; no recovery for contingent fee.

TOPIC: Attorney Fees

SECTION: 7422. Civil actions for refund

CITATION: H.A. Chamberlain, 2009-2 U.S.T.C. 50,596, (5th Cir. 2009)

DATE: 2009-08-27

DOC TYPE: Cases

EXPLANATION:

SUMMARY: Tax court upholds notice of federal tax lien issued after taxpayer`s death.

TOPIC: Collection

SECTION: 6320. Notice and opportunity for hearing upon filing of notice of lien

CITATION: Estate of Mark Brandon v. Commissioner., 133 T.C. No. 4 (Aug. 27, 2009)

DATE: 2009-08-26

DOC TYPE: Cases

EXPLANATION:

SUMMARY: IRS revises procedures for automatic consent to change of accounting method.

TOPIC: change of accounting method

SECTION: 481. Adjustments required by changes in method of accounting

CITATION: Rev. Proc. 2009-39, I.R.B. 2009-38, August 27, 2009

DATE: 2009-08-26

DOC TYPE: Revenue Procedure

EXPLANATION:

SUMMARY: Court decision on trust`s direct tax liability did not bar deciding issue of transferee liability.

TOPIC: Transferee Liability

SECTION: 6901. Transferred assets

CITATION: Frank Sawyer Trust of May 1992, Transferee, Carol S. Parks, Trustee v. Commissioner., 133 T.C. No. 3, (Aug. 24, 2009)

DATE: 2009-08-23

DOC TYPE: Cases

EXPLANATION:

SUMMARY: Divided tax court rejects IRS`S gift tax treatment of transfers to single-owner LLC.

TOPIC: Gift Tax

SECTION: 2501. Imposition of tax

CITATION: Pierre v. Commissioner., 133 T.C. No. 2 (Aug. 24, 2009)

DATE: 2009-08-23

DOC TYPE: Cases

EXPLANATION: