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Mitchell B. Hausman and Frances Ferrito Regan, for
respondent in docket No. 10802-89.
Jennifer J. Kohler and Frances Ferrito Regan, for respondent
in docket Nos. 10803-89 and 27660-89.
CONTENTS
Page
MEMORANDUM FINDINGS OF FACT AND OPINION....................... 2
OPINION OF THE SPECIAL TRIAL JUDGE............................ 3
FINDINGS OF FACT.............................................. 6
A. The Plastics Recycling Transactions...................... 6
B. The Partnerships......................................... 8
C. David Alter and Martin Feinstein.........................11
D. Petitioners and Their Introduction to the Partnership
Transactions.............................................16
1. Robert and Patricia Kaliban..........................17
2. Steve and Lispet Roland..............................19
3. Karl and Marjorie Weber..............................21
4. Lionel and Betty Zimmer..............................23
OPINION.......................................................26
A. Section 6653(a)--Negligence..............................28
1. The So-Called Oil Crisis............................29
2. Petitioners' Purported Reliance on Advisers.........32
3. Miscellaneous.......................................43
4. Conclusion as to Negligence.........................53
B. Section 6659--Valuation Overstatement....................54
1. The Grounds for Petitioners' Underpayments..........55
2. Concession of the Deficiencies......................60
3. Section 6659(e).....................................64
C. Petitioners' Motions 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........................................67
MEMORANDUM FINDINGS OF FACT AND OPINION
DAWSON, Judge: These cases were assigned to Special Trial
Judge Norman H. Wolfe pursuant to the provisions of section
7443A(b)(4) and Rules 180, 181, and 183. They were tried and
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