Existing tax matters partner controls the 2012 statute extension

Plain-English summary

Chief Counsel advised that the partnership's tax matters partner for 2012 remained in that role under the regulations. Only that person could sign an agreement extending the limitations period for the 2012 partnership year. For another year, the person could be designated either as a partner authorized to extend the period or as the tax matters partner. Without one of those designations, the person could not extend the statute.

Ruling snapshot

• Question: Who may sign an agreement extending the limitations period when proceeding without a current tax matters partner?
• Outcome: Advice given. The existing 2012 tax matters partner alone could extend that year's statute.
• Key authorities: IRC §§ 6229 and 6231; Treas. Reg. §§ 301.6229(b)-1 and 301.6231(a)(7)-1

Full text (IRS public release)

ID: CCA_2014082508282501 [Third Party Communication:

UILC: 6229.02-00
Date of Communication: Month DD, YYYY]

Number: 201438026
Release Date: 9/19/2014
From:
Sent: Monday, August 25, 2014 8:28:26 AM
To:
Cc:
Bcc:
Subject: RE: Proceeding without TMP

The 2012 TMP remains the TMP under Treas. Reg. 301.6231(a)(7)-1(L) and only he can sign a statute extension for that year.

You can still solicit information from the TMP for the current year and he can be designated as a partner with authority to extend the statute as provided under Treas. Reg. 301.6229(b)-1(a)(1). He can also be designated as TMP for 2012. But if the partnership does neither, he cannot extend the statute.