- 15 - 5. Stipulated Settlement Decision for 1987 Petitioner concedes that Kathleen Pert, in her capacity as personal representative of the Estate of Timothy Riffe, agreed to a stipulated decision that Timothy Riffe, deceased, was liable for deficiencies and additions to tax for negligence and substantial understatement of tax for 1987. Petitioner also concedes that Kathleen Pert agreed to a stipulated decision that established her tax liabilities for 1987. Petitioner also concedes that liabilities were assessed by respondent pursuant to such agreement. Petitioner argues that he may relitigate the liability of Timothy Riffe, deceased, and Kathleen Pert for 1987. We disagree. As we stated in par. 3 above, res judicata bars a transferee from relitigating the income tax liabilities of a transferor once a final decision has been entered by the Tax Court in the transferor's case, if the decision was stipulated. Krueger v. Commissioner, 48 T.C. at 829-830; Baptiste v. Commissioner, 29 F.3d 1533 (11th Cir. 1994); Forehand v. Commissioner, supra; see Huddleston v. Commissioner, 100 T.C. 17 (1993). Petitioner acknowledges that Baptiste v. Commissioner, supra, and Krueger v. Commissioner, supra, hold that petitioners are bound by the stipulated decision signed by the Estate of Timothy Riffe. Petitioner acknowledges that, unless we reconsider our previous decisions on this issue, res judicataPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Next
Last modified: May 25, 2011