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and litigation procedures of sections 6221 through 62311 enacted
by the Tax Equity & Fiscal Responsibility Act of 1982 (TEFRA),
Pub. L. 97-248, sec. 402(a), 96 Stat. 648. They further agree
that a timely petition was filed and, accordingly, this Court has
jurisdiction over this case. Mr. Newman, however, argues that he
entered into a settlement agreement with respondent which
converted his partnership items to nonpartnership items and, with
respect to him, ousted this Court's jurisdiction pursuant to
sections 6226(d)(1)(A) and 6231(b)(1)(C). The issue is whether
Mr. Newman and respondent entered into a binding settlement
agreement with respect to adjustments relating to Mr. Newman's
investment in the partnership for the 1985 through 1989
partnership taxable years.
FINDINGS OF FACT
Cinema '85 is one of a number of partnerships formed to
purchase and exploit the rights to certain films. The general
partners of those partnerships were Richard M. Greenberg and/or
A. Frederick Greenberg.2 Respondent began an examination of the
partnership at some point in the mid-1980's as part of a national
1
Unless otherwise indicated, all section references are
to the Internal Revenue Code in effect for the years in issue,
and all Rule references are to the Tax Court Rules of Practice
and Procedure.
2
On its partnership returns for the years in issue,
Cinema '85 claimed loss deductions based on the alleged purchase
of the films "Salvador" and "At Close Range", and the alleged
purchase of an interest in certain distribution rights in the
films "Return of the Living Dead" and "Howling II".
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