- 7 -
Petitioner is liable as a successor transferee (i.e., a
transferee of a transferee) of the assets of Timothy Riffe,
deceased, in the amount of $140,075 plus interest; and (b)
petitioner is liable as a transferee of the assets of Kathleen
Pert in the amount of $67,672, plus interest as provided by law.
Discussion
1. Position of the Parties
Petitioner admits that Kathleen Pert, as a personal
representative of the Estate of Timothy Riffe, agreed to the
deficiencies and additions to tax for 1986, 1988, and 1989 with
respect to the income tax of Timothy Riffe. Petitioner also
admits that the copies of the Forms 866 attached to respondent's
answer were the means by which the tax liabilities of Timothy
Riffe, deceased, and Kathleen Pert were compromised and later
assessed by the Commissioner.
Petitioner argues that he is not precluded by the closing
agreements from litigating the underlying deficiencies and
additions to tax of Timothy Riffe, deceased, and Kathleen Pert,
in connection with respondent's determination that he is a
transferee of Kathleen Pert and a successor transferee of Timothy
Riffe, deceased.
Petitioner points out that Kathleen Pert was not a party in
her individual capacity to the closing agreement for Timothy
Riffe, deceased, and contends that the closing agreement is not
binding on petitioner.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Next
Last modified: May 25, 2011