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under section 6621; and (4) execution of a closing agreement
(Form 906) stating the settlement and resolving the entire matter
for all years. Petitioners assert that the Plastics Recycling
project settlement offer was extended to them, but they do not
claim to have accepted the offer timely, so they effectively
rejected it.
In December 1988, the Miller cases were disposed of by
settlement agreement between the taxpayers and respondent, and
attorney Richard S. Kestenbaum executed the settlement on behalf
of the Millers. This Court entered decision documents based upon
those settlements on December 22, 1988. The settlement provided
that the taxpayers in the Miller cases were liable for the
addition to tax under the provisions of section 6659 for
valuation overstatement, but not for the additions to tax under
the provisions of sections 6661 and 6653(a). The increased
interest under section 6621(c), premised solely upon Miller's
interest in the recyclers for the taxable years at issue, was not
applicable because Miller made payments prior to December 31,
1984, so no interest accrued after that time. Respondent did not
notify petitioners or any other taxpayers of the disposition of
the Miller cases. Estate of Satin v. Commissioner, T.C. Memo.
1994-435; Fisher v. Commissioner, T.C. Memo. 1994-434.8
8 Respondent attached copies of the Miller closing agreement
and disclosure waiver to her objection to petitioners' motion for
leave. Petitioners do not dispute the accuracy of the document
(continued...)
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