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5. A decision shall be submitted in this case when the decision
in the CONTROLLING CASE (whether litigated or settled) becomes final
under I.R.C. sec. 7481;
6. If the CONTROLLING CASE is appealed, the petitioner(s)
consent(s) to the assessment and collection of the deficiency(ies),
attributable to the adjustment(s) formulated by reference to the Tax
Court's opinion, notwithstanding the restrictions under I.R.C. sec.
6213(a);
7. The petitioner(s) in this case will testify or provide
information in any case involving the same tax shelter adjustment, if
requested; and
8. The petitioner(s) in this case consent(s) to the disclosure
of all tax returns and tax return information for the purpose of
respondent's discovering or submitting evidence in any case involving
the same shelter adjustment(s).
On or about February of 1988, a settlement offer (the
Plastics Recycling project settlement offer or the offer) was
made available by respondent to all docketed Plastics Recycling
cases, and subsequently to all nondocketed cases. Baratelli v.
Commissioner, T.C. Memo. 1994-484.7 Pursuant to the offer,
taxpayers had 30 days to accept the following terms:
(1) Allowance of a deduction for 50 percent of the amount of the
cash investment in the venture in the year(s) of investment to
the extent of loss claimed; (2) Government concession of the
substantial understatement of tax penalties under section 6661
and the negligence additions to tax under section 6653(a)(1) and
(2); (3) taxpayer concession of the section 6659 addition to tax
for valuation overstatement and the increased rate of interest
7 The record does not include a settlement offer to
petitioners. Petitioners have attached to their motion for
decision a copy of a settlement offer to another taxpayer with
respect to a plastics recycling case. Respondent has not
disputed the accuracy of the statement of the plastics recycling
settlement offer.
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