T.C. Memo. 1997-296
UNITED STATES TAX COURT
IRA S. GREENE AND ROBIN C. GREENE, Petitioners v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 32552-85. Filed June 30, 1997.
Lanny M. Sagal, for petitioners.
Barry J. Laterman, for respondent.
CONTENTS
Page
MEMORANDUM FINDINGS OF FACT AND OPINION....................... 2
OPINION OF THE SPECIAL TRIAL JUDGE............................ 2
FINDINGS OF FACT.............................................. 4
A. The Plastics Recycling Transactions...................... 5
B. Resource Reclamation Associates.......................... 7
C. Richard Roberts.......................................... 9
D. Petitioners and Their Introduction to Resource
Reclamation Associates...................................10
OPINION.......................................................14
A. Section 6653(a)--Negligence..............................16
1. The Private Offering Memorandum.......................17
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Last modified: May 25, 2011