Lehrer

MEMORANDUM **

Petitioners Ronald and Carol Lehrer appeal from the United States Tax Court’s grant of partial summary judgment on the question of whether they made an effective 26 U.S.C. § 475 (f) election for mark-to-market treatment of their losses from trades of securities for the tax years 1999, 2000, and 2001. They also challenge certain discovery rulings of the tax court.

With respect to the Petitioners’ purported § 475(f) election, we review the district court’s grant of partial summary judgment de novo. Petitioner urges this court to allow an election several years after filing of the relevant tax returns and after the start of the audit of those returns. In so doing, Petitioners ask us to ignore the reasoned judgment of the Internal Revenue Service in Revenue Procedure 99-17. Petitioner’s claim rests, in part, on an argument that the revenue procedure is not an agency pronouncement carrying the force of law that is entitled to deference under Chevron, USA, Inc. v. NRDC, Inc., 467 U.S. 837 , 104 S.Ct. 2778 , 81 L.Ed.2d 694 (1984). We need not reach that question. Revenue Procedure 99-17 is a persuasive pronouncement promulgated under an express grant of congressional…