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connection with petitioners' participation in a tax shelter
entitled the Encore Leasing Program (Encore). By order dated
August 24, 1994, the Court granted respondent's motion and
directed petitioners to show cause why judgment should not be
entered against them on the basis of the Court's decisions in
Wolf v. Commissioner, T.C. Memo. 1991-212, affd. 4 F.3d 709 (9th
Cir. 1993), Feldmann v. Commissioner, T.C. Memo. 1991-353, affd.
without published opinion 5 F.3d 536 (9th Cir. 1993), and Garcia
v. Commissioner, T.C. Memo. 1991-451, affd. without published
opinion 5 F.3d 536 (9th Cir. 1993). In their response,
petitioners failed to provide the Court with an adequate basis
upon which to distinguish the instant case from the previously
decided cases. The Court subsequently ordered petitioners either
to sign a stipulated decision in the instant case or appear
before the Court for a hearing on the matter. Petitioners chose
the latter of these alternatives, and this case was heard at a
motions session held at Houston, Texas.
Petitioners resided in Beaumont, Texas, at the time they
filed their petition. This case arises out of petitioners'
participation in Encore, a tax shelter in the business of leasing
master recordings of previously released "pop" and Gospel
albums.1 Trials were conducted in the three above-mentioned
1For a detailed discussion of the facts and the applicable
law with respect to participation in the Encore Leasing Program,
see Booker v. Commissioner, T.C. Memo. 1996-261; Wolf v.
(continued...)
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