January 2, 2018 IRS deficiency notice was untimely, holds Tax Court: Six-year limitations period only applies for tax years to which Section 6038D foreign financial asset reporting requirement is effective In Mehrdad Rafizadeh v. Commissioner, 150 T.C. No. 1, the Tax Court has granted summary judgment for the taxpayer, holding the IRS deficiency notice was untimely. Specifically, the court concluded that because the six-year limitations period under Section 6501(e)(1)(A)(ii) applies only to omissions from gross income of amounts attributable to certain foreign financial assets (which must be reported under Section 6038D), the six-year limitations period cannot be applied to the years at issue (2006 - 2008), as the Section 6038D reporting requirement was not effective for those years. | ||||
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