Saturday, August 4, 2012

Does the Preparer's Fraud Invoke the Unlimited Statute of Limitations? (8/5/12)

Readers of this blog may be interested in this blog that I just posted to my Federal Tax Procedure Blog:  Does the Preparer's Fraud Invoke the Unlimited Statute of Limitations? (8/5/12), here.

To summarize the Tax Procedure Blog entry, I argue error in the Tax Court's holding in Allen v. Commissioner, 128 T.C. 37 (2007), here,that the preparer's fraud can, alone, invoke the unlimited statutes of limitations for a fraudulent return in Section 6501(c)(1), here, .  In the discussion, I discuss the relationship of the unlimited statute of limitations for fraud in Section 6501(c)(1) to the civil fraud penalty in Section 6663(a), here.  I also discuss the potential applicability of the Allen argument to abusive tax shelters such as involved in United States v. Home Concrete, ___ U.S. ___ 132 S.Ct. 1836 (2012), here, where the Supreme Court held that the Section 6501(e) six-year statute of limitations did not apply to overstated basis in abusive tax shelters where, at least in many of the cases, the returns were fraudulent because of actions other than the taxpayers (the enablers).

I had an earlier posting on this general subject on this Federal Tax Crimes Blog, Civil Tax Statute of Limitations for Fraudulent Tax Shelters (12/19/09), here.

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