Had I not read in The Times of the U.S. Tax Court ruling that overturned the Internal Revenue Service claim that stock distributed in the breakup of American Telephone & Telegraph constituted a taxable dividend, it is doubtful that I would be aware of it even now.
Although the IRS zealously mailed letters to all AT&T shareholders informing them that it considered part of the stock distribution as taxable income, it has made no similar effort to notify the taxpayers forced to pay tax on this non-existent "income" that they may now be eligible for a refund on their 1984 taxes.
On the contrary, two letters that I have written to the IRS Fresno office have been ignored.
I finally learned after repeated calls to IRS offices that I must file a 1040X amended return to claim my refund.
It is apparent that the IRS is intent on keeping as much of this ill-gotten revenue as it thinks it can get away with.
While the IRS is understandably reluctant to admit its error, it evidently has no qualms about flouting the intent, if not the wording of the Tax Court ruling.