-13-
in purchase price; and (4) the "hazards of litigation".
Accordingly, when this case was called for trial on March 20, 1995,
respondent's counsel informed the Court that a basis for settlement
had been reached and that respondent was conceding the case.
On June 8, 1995, petitioners filed a Motion for Litigation and
Administrative Costs in the total amount of $19,483.51, and a $60
filing fee.
Discussion
A prevailing party may be awarded a judgment for reasonable
litigation costs incurred in connection with a Court proceeding
pursuant to section 7430, as amended by the Technical and
Miscellaneous Revenue Act of 1988, Pub. L. 100-647, sec. 6239, 102
Stat. 3342, 3743-3746 (applicable to petitions filed after November
10, 1988). See also Rule 231. The petition in this case was filed
on June 14, 1994.
An individual taxpayer must meet seven requirements in order
to be awarded reasonable litigation and administrative costs under
section 7430. The taxpayer must:
(1) Timely file a motion for litigation and administrative
costs. Rule 231(a). Petitioners met this requirement.
(2) Substantially prevail in the proceeding in this Court.
Sec. 7430(c)(4)(A)(ii). Respondent concedes that petitioners met
this requirement.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011