The Tax Court ruled in an October 7 memorandum decision that the IRS is permitted to apply an individual's overpayment of tax against a proposed but unassessed deficiency. The IRS argued that a levy, assessment, or court proceeding under Section 6213(a) is different from an offset under 6402(a). As such, they did not have to wait 90 days between the mailing of the notice of deficiency and the deadline for the taxpayer to petition the Tax Court.
Please click here to read the entire decision.
Posted by Shahzeb Gaziani, Senior Associate Editor, Wealth Strategies Journal.
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