Podcasts Other Ed Zollars' Tax Update Podcast Testing the Limits-The IRS Loses Statute of Limitations Case

Testing the Limits-The IRS Loses Statute of Limitations Case

Published: June 21, 2007, 1:02 p.m.

b'This week we look at recent cases where the IRS lost a statute of limations case.\\xa0 In the case of Bakersfield Energy Partners, LP, 128 TC No. 17, the question was whether an overstatement of basis used in computing a Section 1231 gain could result in omission from gross income that triggers the six year statute of limitations under \\xa76629 and \\xa76501.\\xa0\\xa0 The Tax Court decided the answer was no.

The materials can be downloaded at http://www.edzollars.com/2007-06-22_Limits.pdf .

The podcast is sponsored by Leimberg Information Services, located on the web on http://www.leimbergservices.com .
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