Peter M. Schaeffer - Page 2

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          180, 181 and 183.1  The Court agrees with and adopts the opinion            
          of the Special Trial Judge, which is set forth below.                       
                         OPINION OF THE SPECIAL TRIAL JUDGE                           
               NAMEROFF, Special Trial Judge:  This case is before us on              
          petitioner’s motion filed December 16, 1996, for leave to file a            
          motion to vacate decision out of time (the Motion for Leave).               
               On March 24, 1995, respondent issued a notice of deficiency            
          to petitioner which determined a deficiency and an accuracy-                
          related penalty under section 6662(a) in regard to petitioner’s             
          1991 Federal income tax.  Petitioner resided in Palm Springs,               
          California, at the time of filing his petition in this Court.  On           
          April 17, 1996, a decision in this case was entered by this Court           
          "pursuant to the agreement of the parties" providing for a                  
          deficiency in income tax in the amount of $13,776 and a section             
          6662(a) penalty of $2,755.  Petitioner was not represented by               
          counsel at that time,2 negotiated the settlement on his own                 
          behalf, and signed the stipulation portion of the Decision                  
          document.  Petitioner now seeks leave to vacate that decision               
          because he was allegedly not aware that interest would accrue on            



          1  All section references are to the Internal Revenue Code                  
          in effect for the year in issue.  All Rule references are to the            
          Tax Court Rules of Practice and Procedure.                                  
          2  When the Motion for Leave was filed, petitioner was                      
          represented by Howard C. Kochman.  Mr. Kochman and petitioner               
          filed a Motion to Withdraw Mr. Kochman as counsel on March 11,              
          1997, which was granted by the Court.                                       




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