- 6 - available to all taxpayers at all points in time the most favorable settlement terms that were offered to any taxpayer. More specifically, petitioners allege -- (1) that the settlements that were agreed to in the instant cases were premised on the erroneous fact that no better settlements were available to the taxpayers; (2) that because of the express language of section 6224(c)(2), the TEFRA partnership settlement procedures apply to partnerships for all years, once partnerships are subject to the general TEFRA partnership provisions for any year; (3) that, during 1994 and later years, when petitioners entered into their settlements for the pre-TEFRA years (1979-1982), petitioners and their counsel allegedly were not notified by respondent of the prior, more favorable cash settlements that other taxpayers during 1986, 1987, and 1988 had agreed to; and (4) that (because of (2) above) the Elektra/Hemisphere tax shelter partnerships’ pre-TEFRA years effectively became, or should be treated as becoming, subject to the TEFRA partnership settlement procedures. Thus, petitioners herein allege that during 1994 and later years they should have been allowed to settle their cases consistent with the most favorable settlement terms offered to any other taxpayers at any time. Petitioners allege the existence of "a pervasive and manufactured conspiracy" among respondent’s counsel to deprive them and other taxpayers of the TEFRA settlement procedures for pre-TEFRA years. Petitioners allege that the defective settlement procedures that were utilized to settle the instant cases also affected some 2,000 other settlement agreements and a total of 12,000 case dispositions.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Next
Last modified: May 25, 2011