Estate of James T. Campion, Deceased, Leona Campion, Executrix, et al. - Page 5

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          dates beyond which a particular settlement position would no                
          longer be available.                                                        
               Under respondent’s settlement position as of 1986, investors           
          generally were allowed tax deductions reflecting the full amount            
          of their cash out-of-pocket invested in the respective Elektra              
          Hemisphere tax shelter, and no penalties or additions to tax were           
          imposed other than increased interest under section 6621(c) or              
          its predecessor section 6621(d) (hereinafter referred to as the             
          cash settlement).  Petitioners herein did not agree to settle the           
          tax deficiencies and additions to tax that respondent had                   
          determined against them relating to their investments in the                
          Elektra Hemisphere tax shelters on that basis.  Rather,                     
          petitioners waited until after the opinion in Krause v.                     
          Commissioner, supra, was rendered in 1992 and agreed to settle at           
          that time, or in later years, on the basis of respondent’s then             
          pending no-cash settlement position.  Not only did petitioners              
          agree to settle, but petitioners signed stipulated decision                 
          documents reflecting the no-cash settlement position, and such              
          decision documents were entered by the Court and are now final.             
               Petitioners allege that a structural defect or a fraud on              
          the Court occurred in settling these cases and that respondent,             
          under the TEFRA partnership statutory provisions, had a duty of             
          consistency to treat all taxpayers consistently and to make                 







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