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4. With respect to the issue of the addition to the
tax under I.R.C. �6659, Petitioners do not intend to
contest the value of the Sentinel Recycler or the
existence of a valuation overstatement on the
Petitioners' returns; however, Petitioners reserve
their right to argue that the underpayment in tax is
not attributable to a valuation overstatement within
the meaning of I.R.C. �6659(a)(1), and that the
Secretary should have waived the addition to tax
pursuant to the provisions of I.R.C. �6659(e).
In their stipulation of settled issues, petitioners in docket No.
21847-90 (the Fredericks) conceded: (1) The section 6621(c)
interest; (2) the tax benefits claimed on their tax returns from
their participation in the Plastics Recycling Program; and (3)
the section 6659 addition to tax on the portion of their
underpayment attributable to the disallowance of investment tax
and business energy credits claimed as a result of their
participation in the Plastics Recycling Program. Respondent
conceded the addition to tax under section 6661 with respect to
the Fredericks' participation in the Plastics Recycling Program.
Long after the trials of these cases, petitioners in docket
Nos. 16922-90 (the Gollins) and 19612-90 (the Fishbachs) each
filed a Motion For Leave To File Motion For Decision Ordering
Relief From the Negligence Penalty and the Penalty Rate of
Interest and To File Supporting Memorandum of Law under Rule 50.
These motions were filed with attached exhibits on October 30,
1995, and on October 23, 1995, respectively. On those same
dates, petitioners Gollin and Fishbach each also lodged with the
Court a motion for decision ordering relief from the additions to
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