IRS tax assessment deadline
United States v. Home Concrete & Supply
In brief
The Supreme Court left the Fourth Circuit’s judgment in place, so that court’s result remains unchanged in Home Concrete’s case.
- Where it stands
- Decided
Decided 5-4 · April 25, 2012 · Opinion by Justice Breyer
- What it’s about
- Home Concrete & Supply’s dispute asked whether overstating the tax basis of sold property counts as omitted income, allowing the IRS six years to assess tax, and whether a Treasury regulation could support that view.
- Who it affects
- The Fourth Circuit’s judgment remains in place in the IRS’s dispute with Home Concrete; the Supreme Court did not change the result in that case.
Summary: written with AI from the case record.
What it's about
The Supreme Court upheld the Fourth Circuit’s judgment.
Federal tax law gives the IRS more time to assess tax when a taxpayer leaves substantial income off a return.
Question presented
1. Can an understatement of gross income attributable to an overstatement of basis in sold property qualify as an "omi[ssion] from gross income" that triggers the extended six-year assessment period? 2. Is a final regulation from the Department of the Treasury reflecting the IRS's view that an understatement of gross income attributable to an overstatement of basis which can trigger the extended six-year assessment period entitled to judicial deference?
What the Court decided
Holding
The judgment is affirmed. 634 F. 3d 249, affirmed.
- Result
- Affirmed
The vote
From the opinions
“In my view, the amended statute leaves room for the Department’s reading.”
What's next
The Fourth Circuit’s judgment remains in place after the Supreme Court’s decision; the record lists no further step in this case.
Documents
Opinions
Audio
Docket activity
New analysis added
AI analysis generated: Case Briefing
New analysis added
AI analysis generated: Impact Analysis
AI analysis generated: Opinion Summary
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AI analysis generated: Decision Record
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Audio Recording added: Oral Arguments - United States v. Home Concrete & Supply, LLC
Opinion added: Home Concrete
More questions
- What did Justice Kennedy say about the 1954 law changes?
- He said the changes left room for Treasury’s view that overstating tax basis could count as omitted income.
Sources
Primary materials plus reporting. Best-effort analysis: this explainer relies on a mix of primary materials and trusted secondary sources. Official filings and opinions remain authoritative.