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of the Estate of Timothy Riffe. The Tax Court entered
a decision based on that settlement stipulation.
Respondent determined that petitioner, Kathleen
Pert's second husband, Harvey Pert, is liable as a
transferee of assets from Kathleen Pert and as a
successor transferee of assets from Timothy Riffe,
deceased.
Respondent filed a motion for partial summary
judgment to establish that: (1) Petitioner Harvey Pert
may not contest Timothy Riffe's and Kathleen Pert's tax
liability, and that (2) the statute of limitations
does not bar assessment of transferee liability against
petitioner Harvey Pert for 1986.
Held: If it is established that petitioner Harvey
Pert is a transferee, then: (1) He may not contest the
deficiencies and additions to tax for fraud as
established by the closing agreements except on the
grounds available to the parties to the closing
agreements under sec. 7121 I.R.C. (fraud, malfeasance,
or misrepresentation of a material fact); and (2)
the statute of limitations does not bar assessment
of transferee liability against petitioner.
B. Gray Gibbs for petitioner.
Michael A. Pesavento for respondent.
OPINION
COLVIN, Judge: This case is before the Court on
respondent's motion for partial summary judgment on two issues:
(1) Whether petitioner Harvey Pert may contest (on grounds
other than fraud, malfeasance, or misrepresentation of a material
fact) the tax liability established by closing agreements for
1986, 1988, and 1989 under section 7121 which were agreed to:
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