CCA 200944035
Omission From Gross Estate (25% Rule) - Exception to Period of Limitations
ID: CCA_2009082114545243 Number: 200944035
Release Date: 10/30/2009
Office: ---
UILC: 6501.16-00
From: ---
Sent: Friday, August 21, 2009 2:54:53 PM
To: ---
Cc:
Subject: FW: IRC 6501(e)(2) question
--- - --- has asked me to assist with your question.
--- is correct that an entire item must be omitted and that the misvaluation of an item would not extend the period of limitations. We have been litigating (and losing) some high profile cases with respect to overstating the basis of an asset for 6501(e)(1) purposes, but as you can see from the Salman Ranch opinion, even we concede that an item must be fully omitted to fall within 6501(e)(2).
Source: view the official PDF
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