Republic Plaza Properties Partnership, PFI Republic Limited, Inc., Tax Matters Partner - Page 6

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          correct in contending that either Partnership or PFI is the                 
          prevailing party for purposes of section 7430, respondent would             
          concede that each of those organizations meets the net worth                
          requirements.4  However, respondent argues that even if those               
          requirements were satisfied, neither Partnership nor PFI would be           
          entitled under that section to the litigation costs at issue                
          because, inter alia, PFI has failed to establish that either                
          Partnership or PFI incurred any costs in connection with this               
          Court proceeding as required by section 7430(a)(2).                         
               Section 7430(a)(2) provides that the prevailing party may be           
          awarded "reasonable litigation costs incurred in connection with"           
          (emphasis added) a court proceeding involving the determination of          
          any tax, interest, or penalty under the Code.  The term "reason-            
          able litigation costs" is defined to include, inter alia, (1) the           
          reasonable expenses of expert witnesses, section 7430(c)(1)(B)(i),          
          and (2) reasonable fees paid or incurred for the services of                
          attorneys, section 7430(c)(1)(B)(iii), in connection with such a            
          court proceeding.                                                           

          of objection that her "overall position" in this case was sub-              
          stantially justified for purposes of sec. 7430(c)(4)(A)(i),                 
          respondent misstates and/or mischaracterizes certain of the                 
          Court's findings in its Opinion.                                            
          4  If respondent were correct in contending that either Pacific             
          Holding or PacificCorp is the prevailing party for purposes of              
          sec. 7430, PFI would concede that neither would satisfy the net             
          worth requirements and that therefore no litigation costs at                
          issue should be awarded under that section.                                 

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