Ezel / IRS Rulings / 201107013

CCA 201107013: Protective claim did not extend the refund period for separate NOL losses

Number
201107013
Outcome
Advice
Document type
Chief Counsel Advice
IRS subject
Limitations on Credit or Refund (Barred v. Not Barred)
Topics
Procedure, penalties, and administration
Code sections
§ 6511
Ruling dated
October 4, 2010
Publicly released
February 18, 2011
Source
View Official PDF

Apply this to your situation

This page covers legal advice the IRS Office of Chief Counsel wrote for IRS staff, issued in 2011, which can't be cited as precedent. Ask about your situation and see what the current Code and IRS guidance say, with citations.

Currency note: this determination was released in 2011
Statutory amendments, regulation changes, court decisions, or later IRS guidance may have changed the analysis since then. Treat this page as historical context, not current tax advice. Verify current law before relying on any specific rule, threshold, or position mentioned here.
Not precedent. Under 26 U.S.C. § 6110(k)(3), this written determination may not be used or cited as precedent. It is advice from the IRS Office of Chief Counsel to IRS personnel on the facts they presented, and identifying details were redacted by the IRS before release. The official IRS release (linked on this page as a PDF) is the authoritative source.
About this page: The plain-English summary and ruling snapshot below were written by Ezel based on the official IRS release. The full text is the IRS's own document.
View official IRS release (PDF)

Plain-English summary

Chief Counsel advice concludes that the period under IRC § 6511 for filing a refund claim based on specified net operating losses had expired. The advice also says that a protective claim relating to Ponzi scheme losses for a redacted year did not allow the taxpayer to file a new refund claim based on those separate net operating losses.

Ruling snapshot

  • Question: Could a protective claim for Ponzi scheme losses preserve a later refund claim based on net operating losses?
  • Outcome: Advice given.
  • Key authorities: IRC § 6511.

Full text (IRS public release)

ID: CCA_2010100417210544 Number: 201107013
Release Date: 2/18/2011
Office: ----------------------------
UILC: 6511.00-00

From: ---------------------
Sent: Monday, October 04, 2010 5:21:06 PM
To: -----------------------
Cc:
Subject: RE: IRC 6511 Appeals Case

-----------

Based solely on these facts, the section 6511 period for filing a refund claim based on the net operating losses at issue is expired. The protective claim for the ------- year relating to the Ponzi scheme losses would not operate to allow the taxpayer to now file a refund claim based on the net operating losses. Please let me know if you would like to discuss further.

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